Sluggish Transactions as Magnesium Prices Continue to 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 15,450-15,550 yuan/mt, and the transaction prices for 99.9% magnesium ingot were 15,450-15,000 yuan/mt, with magnesium prices fluctuating downward.

Today, the magnesium ingot market quotations continued the downward trend, and the decline in transaction prices accelerated. As downstream restocking from earlier periods concluded and raw material prices for coal and ferrosilicon dropped, downstream buyers with no urgent procurement needs generally adopted a wait-and-see approach. This led to a decrease in magnesium market inquiries, weakening market transactions. Additionally, the lack of cost support for magnesium prices rendered magnesium plants powerless in counteroffers, further accelerating the decline in magnesium prices.