Magnesium Prices Declined Under Pressure Today [SMM Magnesium Ingot Spot Bulletin]

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Today, the mainstream quotations for magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,800-15,900 yuan/mt, and the transaction prices for 99.9% magnesium ingot were 15,800-15,850 yuan/mt, with magnesium prices fluctuating downward.

Today, magnesium ingot market quotations were mixed, and the pace of transaction price reductions accelerated. Affected by the continuous decline in the price of semi coke, a by-product, the financial pressure on magnesium ingot smelters increased significantly. Coupled with insufficient downstream orders for magnesium ingots, leading to weak demand-side support, the overall magnesium market showed a stalemate with a weak trend. Spot market trading volume fell short of expectations, and the sentiment to stand firm on quotes among magnesium ingot smelters weakened.