Supply and demand at a stalemate, magnesium prices traded flat today [SMM Spot Magnesium Ingot Report]

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SMM reported on May 7 that the mainstream quotations of magnesium ingot smelters in the main producing areas were in the range of 16,700-16,800 yuan/mt today, up 150 yuan/mt from the previous working day. As magnesium prices continued to rise, downstream customers found it increasingly difficult to keep up, resulting in lackluster magnesium ingot transactions today.

Dolomite: The ex-factory tax-excluded price of 1-3 grade dolomite (Wutai) is 78 yuan/mt, and that of 2-4 grade dolomite (Wutai) is 128 yuan/mt. Recently, news of production suspension has emerged from the dolomite mine end, leading to a slight decrease in dolomite supply. The price support at the bottom for dolomite (Wutai) has strengthened. Additionally, according to feedback from magnesium plant managers, the freight cost per ton of dolomite has increased by 8 yuan recently, and the freight cost per ton of dolomite has risen by approximately 100 yuan.

Ferrosilicon: The ferrosilicon market is in the doldrums, with cautious operations. The market quotation for 75 ferrosilicon has fallen below 6,000 yuan/mt.