Strong Sentiment to Stand Firm on Quotes, Magnesium Prices Continue to Rise [SMM Spot Magnesium Ingot Bulletin]

Published: Mar 12, 2025 17:42

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[SMM Spot Report on Magnesium Ingot: Strong Sentiment to Stand Firm on Quotes, Magnesium Prices Continue to Rise] SMM reported on March 12 that the mainstream quotations from magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,700 yuan/mt, and the transaction price for 99.9% magnesium ingot was 15,700 yuan/mt. Magnesium prices steadily increased...

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Today, the mainstream quotations for magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,700 yuan/mt, and the transaction price for 99.9% magnesium ingot was also 15,700 yuan/mt, with magnesium prices steadily rising.

From today's transaction performance, magnesium prices fluctuated at highs, with downstream acceptance declining. Some end-user enterprises indicated that pre-holiday stockpiling had been completed. The upward momentum for magnesium prices appears limited; however, considering the reduced destocking pressure on the supply side, the sentiment to stand firm on quotes remains strong. It is expected that magnesium prices will remain firm at highs in the near term. SMM will continue to monitor subsequent changes in spot transactions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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