Cost Support Weakens, Magnesium Prices Accelerate Decline Today [SMM Spot Magnesium Ingot Bulletin]

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Today, the mainstream quotations for magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,500-15,600 yuan/mt, with the transaction price for 99.9% magnesium ingot at 15,000 yuan/mt. Magnesium prices fluctuated downward.

Today, the magnesium ingot market quotations continued the downward trend, and the decline in transaction prices accelerated. This trend was mainly influenced by the continuous drop in raw material coal prices and by-product semi coke prices. Furthermore, the decline in magnesium ingot prices failed to stimulate downstream procurement, and trading volume in the spot market fell short of expectations. Due to these factors, magnesium ingot smelters faced significant financial pressure, reducing their willingness to maintain prices. The magnesium ingot market even showed signs of panic selling, leading to continued weakness in the overall magnesium market.