Magnesium plants' reluctance to sell resurfaces, with transaction prices of magnesium ingots rising today [SMM Spot Magnesium Ingot Report]

Published: Apr 29, 2025 18:11

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[SMM Spot Magnesium Ingot Report: Magnesium Ingot Producers Reluctant to Sell, Magnesium Ingot Transaction Prices Rise Today] SMM reported on April 29 that the mainstream quotations for 99.90% magnesium ingot in the main producing areas were 16,500 yuan/mt today, unchanged from the previous working day. As the supply of low-priced cargoes decreased, just-in-time procurement drove magnesium ingot transaction prices higher.

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Today, the mainstream quotation for 99.90% magnesium ingot in the main producing areas is 16,500 yuan/mt, unchanged from the previous working day. As the supply of low-priced goods decreases, just-in-time procurement has driven up the transaction price of magnesium ingot.

Today, magnesium ingot smelters tentatively raised their quotations, which continued to rise after a small volume of transactions at the 16,450 yuan/mt level. However, downstream acceptance was low, with high prices only resulting in a small volume of transactions at some large plants. With the completion of stockpiling before the Labour Day holiday, and considering that the pre-holiday stockpiling activities have largely concluded, there is weak demand-side support, and the upward momentum of magnesium prices is limited. It is expected that magnesium prices will remain stable in the short term.

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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