Low Inventory, Magnesium Prices Stabilize and Rebound [[SMM Analysis]]

Published: Apr 30, 2025 17:54

Save

[SMM Analysis: Magnesium Prices Stabilize and Rebound Amid Low Inventory] SMM Flash News on April 30: Magnesium prices have rebounded mildly this week, influenced by stockpiling ahead of the Labour Day holiday. Trading in the main magnesium ingot producing regions has been excellent. The daily average trading volume of magnesium ingots was maintained at around 1,500 mt in the early stage. The inventory pressure on magnesium ingot smelters has been effectively relieved. Some magnesium ingot smelters have sold magnesium ingot futures for the Labour Day holiday. Supported by low inventory, magnesium ingot prices have rebounded mildly one day after the holiday. As of the time of reporting, the market transaction price of 99.90% magnesium ingot in the main producing regions was 15,600 yuan/mt, up 200 yuan/mt from the beginning of the week.

Magnesium prices rebounded mildly this week. Affected by stockpiling ahead of the Labour Day holiday, the trading volume of magnesium ingots in major producing areas was excellent. Earlier, the daily average trading volume of magnesium ingots remained at around 1,500 mt. The inventory pressure of magnesium ingot smelters was effectively relieved. Some magnesium ingot smelters sold magnesium ingot futures for the Labour Day holiday. Supported by low inventory, magnesium ingot prices rebounded mildly one day after the holiday. As of the time of writing, the market transaction price of 99.90% magnesium ingot in major producing areas was 15,600 yuan/mt, up 200 yuan/mt from the beginning of the week.

SMM analysis suggests that, based on current market performance, as inventory in major producing areas continues to destock, bearish sentiment in the magnesium market has been repaired. However, considering the general acceptance of high prices by downstream consumers, there is limited upward momentum in the future. It is expected that magnesium prices will fluctuate rangebound. SMM will continue to monitor subsequent changes in spot cargo trading volumes.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

40 mins ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

40 mins ago

47 mins ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

47 mins ago

55 mins ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

55 mins ago