Supply and Demand Stalemate, Magnesium Prices Fluctuate Downward [SMM Magnesium Ingot Spot Report]

Published: Dec 19, 2024 17:54

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[SMM Magnesium Ingot Spot Bulletin: Supply and Demand Stalemate, Magnesium Prices Fluctuate Downward] SMM reported on December 19 that the mainstream quotations of magnesium ingot smelting enterprises in the market were 16,000-16,100 yuan/mt, and the mainstream transaction prices were concentrated at 15,950-16,000 yuan/mt...

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Today, the mainstream quotations of magnesium ingot smelting enterprises were 16,000-16,100 yuan/mt, and the mainstream transaction prices were concentrated at 15,950-16,000 yuan/mt, with magnesium prices remaining stable.
From the raw material market, the price of 75# ferrosilicon in Shaanxi remained at 6,200-6,300 yuan/mt. Market sentiment was pessimistic, and steel mills showed low willingness to increase prices. It is expected that ferrosilicon prices will remain under pressure in the short term. This situation may affect downstream demand for magnesium ingots, further exacerbating market uncertainty.
In summary, although recent news of stockpiling has supported prices, market transactions remain sluggish, and downstream players hold a pessimistic outlook on the future market. It is expected that magnesium ingot prices may show a weakening trend in the short term. Overall, the market still needs to focus on changes in supply and demand as well as the impact of raw material price trends on the magnesium ingot market.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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