Lack of Follow-Up on Transactions, Magnesium Prices Consolidate at Low Levels [SMM Magnesium Ingot Spot Bulletin]

》Check SMM Magnesium Spot Quotations, Data, and Market Analysis

Today, the mainstream quotations for magnesium ingot smelting enterprises were 16,000-16,100 yuan/mt, with mainstream transaction prices concentrated at 16,000 yuan/mt. Magnesium prices remained stable.
From the raw material market, the price of 75# ferrosilicon natural blocks in Shaanxi remained at 6,200-6,300 yuan/mt. Currently, the ferrosilicon market is fluctuating downward, with strong market pessimism in the spot market. Steel mills showed low willingness to increase prices, and ferrosilicon prices are expected to continue fluctuating downward in the short term.
Last week, spot orders were released intensively due to market news. This week, market transactions were relatively moderate, and magnesium ingot prices have already surpassed the break-even line for magnesium plants. Smelting enterprises maintained relatively firm quotations. Considering that downstream procurement enterprises and traders are only making just-in-time procurement, magnesium ingot prices are expected to remain stable in the short term.

》Click to View SMM Magnesium Spot Historical Prices