Supply and Demand Stalemate Makes Magnesium Prices Hard to Change [SMM Magnesium Ingot Spot Report]

Published: Dec 31, 2024 21:07

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[SMM Magnesium Ingot Spot Bulletin: Supply and Demand Stalemate, Magnesium Prices Struggle to Rise or Fall] SMM reported on December 31 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 16,000 yuan/mt...

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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 and low willingness from steel mills to increase prices. It is expected that ferrosilicon prices will remain under pressure 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 ex-factory tax-exclusive price of 2-4 grade dolomite was 128 yuan/mt, unchanged from the previous day. 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.
Today, the magnesium ingot market overall remained stable. Mainstream magnesium ingot smelting enterprises maintained firm quotations with limited room for negotiation. Downstream just-in-time procurement continued, but stockpiling enthusiasm was lower than the same period last year. Considering that most magnesium ingot smelting enterprises are currently facing cost losses, magnesium prices are caught in a dilemma of change. It is expected that magnesium prices will remain stable in the short term.

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