Uncertainty Spreads in the Magnesium Market 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 15,200 yuan/mt, and the transaction prices for 99.9% magnesium ingots ranged from 15,100 to 15,200 yuan/mt. Magnesium prices fluctuated downward.

Today, the magnesium ingot market quotations continued the downward trend, and the decline in transaction prices showed no signs of slowing. Industry sentiment grew increasingly uncertain, with concerns about when the price drop would stop lingering among insiders. Following the completion of downstream restocking in the earlier period and the decline in raw material prices for coal and ferrosilicon, 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 producers powerless in counteroffers, further accelerating the decline in magnesium prices.