Post-Holiday Market Return: Magnesium Market Remains Stable [SMM Magnesium Ingot Spot Bulletin]

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Today, the mainstream quotations for magnesium ingot smelters in the market are 16,000-16,100 yuan/mt, with magnesium prices remaining stable.

After the holiday, the magnesium ingot market has been operating relatively steadily. According to magnesium producers, due to smooth destocking before the holiday and relatively small financial pressure on factories, quotes are generally firm, with the focus still on fulfilling scheduled orders. According to a large trader, market transactions during the holiday were mediocre, with factories mainly delivering previous orders. Considering the relatively small financial pressure on the supply side after the holiday and the expectation of downstream restocking, factories have a strong sentiment to stand firm on quotes, and magnesium prices are expected to remain firm in the near term.