[SMM Magnesium News] On June 10, domestic magnesium prices continued to decline. The mainstream quotations for spot 99.90% magnesium ingot in the Shaanxi market stood at 16,000 yuan/mt, unchanged from the morning quotes. Today, the magnesium ingot market is in a state of bottoming out and stabilizing. Although magnesium ingot producers have a strong reluctance to budge on prices, market confidence remains weak due to the sluggish raw material prices and the expected supply surplus caused by the production resumptions of some magnesium plants, resulting in a strong atmosphere of stalemate between supply and demand.