Tight Spot Supply Pushes Magnesium Prices Slightly Upward [SMM Magnesium Ingot Spot Bulletin]

Published: Jan 16, 2025 16:33

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[SMM Magnesium Ingot Spot Bulletin: Tight Spot Supply, Magnesium Prices Slightly Increased] SMM reported on January 16 that the mainstream quotations from magnesium ingot smelters were 16,000-16,100 yuan/mt. The short-term futures transaction prices in the market were concentrated at 16,000 yuan/mt, while the spot transaction prices were raised to 16,050 yuan/mt...

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Today, the mainstream quotations for magnesium ingot smelters were 16,000-16,100 yuan/mt. The short-term futures transaction price in the market was concentrated at 16,000 yuan/mt, while the spot transaction price increased to 16,050 yuan/mt, with low-priced sources disappearing.

Supply and demand side, the current magnesium ingot price is near the cost line. Smelters' willingness to sell at lower prices has weakened. Influenced by downstream enterprises' stockpiling before the holiday, market transactions steadily followed up, effectively releasing smelters' inventory. Smelters' quotations gradually firmed up, with sentiment to stand firm on quotes strengthening, low-priced sources decreasing, and magnesium prices slightly rising. However, considering the approach of the Chinese New Year, downstream pre-holiday stockpiling is mostly completed, and market trading activity is gradually decreasing. It is expected that magnesium prices will remain stable in the near future.

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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