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Today, the mainstream quotations for magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,700 yuan/mt. Although there were transactions at the 15,800 yuan/mt level, trading volume has significantly narrowed, and magnesium prices remained stable.
Today, magnesium prices remained stable. Affected by severe overall losses, magnesium plants showed strong sentiment to stand firm on quotes. Low-priced spot resources were hard to find in the market, demand recovery was slow, and high-priced transactions were not smooth. Sellers and buyers were in a state of stalemate and negotiation. From the supply and demand perspective, on the supply side, magnesium plants have gradually started implementing production cuts or suspension plans due to continued losses, easing supply-side pressure for magnesium ingots. On the demand side, downstream purchasing remained primarily as needed, with weak stocking willingness from traders. Actual demand release was still slow, and price suppression during procurement was significant. SMM analysis suggests that downstream demand has not shown any significant positive signals, leaving magnesium prices lacking upward momentum. In the short term, magnesium prices are expected to remain stable.
