》View SMM Magnesium Spot Quotations, Data, and Market Analysis
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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 in Shaanxi remained at 6,200-6,300 yuan/mt, with pessimistic market sentiment. Steel mills showed low sentiment to stand firm on quotes, and ferrosilicon prices are expected to remain under resistance in the short term. The ex-factory tax-exclusive price of 1-3 grade dolomite was 88 yuan/mt, down 20 yuan/mt from the previous day, while the price of 2-4 grade dolomite remained unchanged at 128 yuan/mt. Considering that downstream magnesium plants of dolomite are gradually shutting down due to rising costs, dolomite prices are expected to fluctuate downward in the future.
At the beginning of the week, the market continued last week's trend, with mainstream magnesium ingot enterprises showing strong sentiment to stand firm on quotes, and magnesium prices remained stable. According to factories, market transactions were mainly just-in-time procurement, with inventory pressure still high. However, as magnesium ingot selling prices have fallen close to the cost line, magnesium plants are under significant operational pressure. Factories showed a strong willingness to stabilize prices, with some refraining from offering external quotations and observing the market's subsequent direction. On the demand side, downstream recently maintained just-in-time procurement, with overall demand falling short of market expectations. Some traders also indicated that further price declines are unlikely, and orders with excessively low quotations carry higher risks of subsequent delivery issues, leading to cautious pricing and trading.
