Weak Demand Makes Magnesium Prices Struggle to Change [SMM Spot Magnesium Ingot Bulletin]

Published: Jan 8, 2025 18:18

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[SMM Magnesium Ingot Spot Bulletin: Weak Demand Makes Magnesium Prices Struggle to Rise or Fall] SMM reported on January 8 that the mainstream quotations from magnesium ingot smelting enterprises in the market were 15,950-16,050 yuan/mt, and the mainstream transaction prices were concentrated at 16,000 yuan/mt...

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The magnesium ingot market remained generally stable yesterday, with mainstream quotations from magnesium ingot smelting enterprises at 15,950-16,050 yuan/mt, and 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 stayed 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 continue to face 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 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.

The magnesium ingot market remained generally stable yesterday, with sellers and buyers generally cautious. Mainstream quotations from magnesium ingot smelting enterprises were firm, while downstream procurement was mainly based on rigid demand. The magnesium market exhibited a strong atmosphere of negotiation. Under the dual impact of inventory at high levels and weak demand, the pressure on magnesium prices remains.

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