Insufficient follow-up on transactions. Magnesium prices were in the doldrums today [SMM Spot Magnesium Ingot Flash Report]

Published: May 19, 2025 18:07

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[SMM Spot Magnesium Ingot Flash Report: Insufficient Transaction Follow-up, Magnesium Prices in the Doldrums Today] SMM reported on May 19 that domestic magnesium prices continued to decline today. The mainstream transaction prices of 99.90% magnesium ingot in the Fugu region were around 17,200-17,400 yuan/mt, down 50 yuan/mt from yesterday.

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SMM reported on May 19 that domestic magnesium prices continued to decline today. The mainstream transaction prices for 99.90% magnesium ingot in the Fugu region were around 17,200-17,400 yuan/mt, down 50 yuan/mt from yesterday.

Currently, the magnesium market is showing a trend of falling back from highs. Downstream enterprises are adopting a wait-and-see attitude towards procurement, and market trading activity has significantly decreased. According to feedback from magnesium plants in the main producing areas, downstream enterprises have generally returned to a wait-and-see stance. Magnesium plant quotes closely follow market changes, with frequent cases of low-price transactions emerging, which in turn drive the overall magnesium prices to continue to decline.

Looking ahead, magnesium prices are expected to enter a rangebound fluctuation zone. On the support side, smelter inventory is at a low level, coupled with strong willingness among enterprises to refuse to budge on prices, forming a certain level of price support and effectively limiting the downside room for magnesium prices. However, the restraining factors are equally apparent. Due to limited market demand for high-priced magnesium supplies, downstream enterprises lack enthusiasm for procurement, severely constraining the upward momentum of magnesium prices.

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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