Market News Disturbs, Magnesium Prices Rise Again [SMM Magnesium Ingot Spot Report]

Published: Mar 27, 2025 17:11

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SMM Magnesium Ingot Spot Market Update: Market Disturbed by News, Magnesium Prices Rise Again. SMM reported on March 27 that this morning, a small amount of magnesium ingots were traded at the price range of 16,000-16,100 yuan/mt. The downstream procurement boosted the confidence of magnesium plants, leading to a collective price hike to 16,200 yuan/mt, with only a few large plants trading at 16,200 yuan/mt.

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This morning, a small amount of magnesium ingots were traded at the price range of 16,000-16,100 yuan/mt. The downstream procurement boosted the confidence of magnesium producers, who then collectively raised the price to 16,200 yuan/mt, with only a few large producers trading at 16,200 yuan/mt.

From the main production areas, it was learned that the news of the treatment of solid waste storage sites yesterday triggered panic buying among some downstream traders, driving the magnesium price upward. A representative from a large trader stated that they originally planned to stock up at 15,500 yuan/mt, and the unexpected rise in magnesium prices was surprising. Additionally, they mentioned that end-users have low acceptance of the current price and hold a pessimistic view on the sustainability of the price increase.

SMM analysis suggests that whether the treatment of solid waste storage sites will affect the normal production of magnesium ingot producers still needs verification. Considering the strong price-firm mentality of magnesium ingot producers, the price is expected to fluctuate upward in the short term. SMM will continue to monitor the changes in spot trading.

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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