[SMM Magnesium Morning Meeting Summary: The tug-of-war between supply and demand in the magnesium market continues, with firm raw material prices supporting the rise in magnesium ingot prices] Magnesium ingot prices continue to rise, with transaction prices in the Fugu region ranging from 16,200 to 16,300 yuan/mt. The raw material sector remains firm, with stable dolomite prices in Wutai and an upward shift in the price center of ferrosilicon. The current market is characterized by "low inventory and weak demand," with domestic trade purchases supporting prices, while foreign trade is exerting significant downward pressure on prices. Trading in the magnesium alloy and magnesium powder markets has slowed, with downstream players adopting a wait-and-see attitude. Amid expectations of production resumptions, prices may maintain a fluctuating trend in the short term.

[SMM Analysis: Supply-Demand Pattern Quietly Transforms, Price Changes Fluctuate, Industry Insiders Call H1 a "Speculative Market"?] Looking back at China's magnesium market in the first half of 2025, affected by the long-term and concentrated production shutdowns of magnesium plants, the pattern of strong supply and weak demand in the magnesium market quietly reversed. Tight spot supply and low inventory levels provided a good foundation for a phased increase in the fundamentals of the magnesium ingot market. News such as "solid waste slag burying," "production shutdowns at dolomite mines in the Wutai region," and "the arrival of environmental protection inspection teams" frequently disrupted the market, leading to frequent fluctuations in magnesium ingot prices.

[SMM Magnesium Ingot Spot Bulletin: SMM reported on June 19 that today's Fugu magnesium ingot offers stood at 16,200-16,300 yuan/mt, up 250 yuan from the previous day; China's FOB offers remained stable at 2,210-2,300 US dollars/mt. The market trading price reached 16,250 yuan/mt, with robust just-in-time procurement in domestic trade, but export orders were still concentrated in the lower price range. Currently, producers have strong reluctance to budge on prices due to low inventory levels, but signs of a pullback in trading volume have emerged, casting doubt on the sustainability of the subsequent price rally.]

[SMM Magnesium Morning Meeting Summary: Manufacturers Show Strong Reluctance to Budge on Prices, Stalemate in Magnesium Market Continues to Spread] Supply side, some mines in Wutai, Shanxi, continue to suspend production, and the pattern of strong supply and weak demand for ferrosilicon persists. Demand side, domestic rigid demand provides limited support, with European summer break leading to weaker procurement and significant price-driving efforts in the Asian market. Overall, under the combined impact of expectations for production resumptions and the off-season during the summer break, the magnesium market is expected to maintain a weak pattern in the short term.

[SMM Analysis: European Magnesium Market Price Swings Outpace Demand Recovery] Chinese magnesium ingot prices show extreme volatility, rebounding from March lows to May highs. European demand remains sluggish despite price fluctuations, with buyers shifting to short-term contracts. This intensifies trader competition, driving FOB offers lower.

[SMM Spot Magnesium Ingot Bulletin: Manufacturers' Reluctance to Budge on Prices Returns, Magnesium Prices Firm Up Slightly Today] SMM June 18 News: Today, magnesium manufacturers' reluctance to budge on prices has returned. The mainstream transaction price for magnesium ingots in the Fugu region has been adjusted upwards to 16,000 yuan/mt, with fewer low-priced supplies compared to the previous day. Magnesium prices remain stable amidst a stalemate.

[SMM Magnesium Morning Meeting Summary: Divergence in Raw Material Prices, Magnesium Ingot and Downstream Products in the Doldrums] Supply side, some dolomite mines in Wutai, Shanxi, continue to suspend production, and the supply-strong, demand-weak pattern of ferrosilicon persists. Demand side, domestic rigid demand provides limited support, with European summer breaks leading to weaker procurement and significant price-driving-down in the Asian market. Overall, under the combined impact of production resumption expectations and the off-season during summer breaks, the magnesium market is expected to maintain a weak pattern in the short term.

[SMM Spot Magnesium Ingot Report: Magnesium Ingot Market Continues to Be in the Doldrums, Tug-of-War Between Sellers and Buyers Intensifies] SMM reported on June 17 that the domestic magnesium ingot market continued to be in the doldrums today, with mainstream transaction prices in the Fugu region ranging from 15,950 to 16,050 yuan/mt; China's FOB quotes ranged from $2,210 to $2,300/mt. Domestic ex-factory prices generally pulled back to the 16,000 yuan/mt mark. Although producers showed strong reluctance to budge on prices, there was insufficient support for transactions. Market trading sentiment was sluggish, with downstream purchases mainly driven by rigid demand, and traders cautiously waiting and watching.

[SMM Magnesium Ingot Spot Cargo Flash Report: Insufficient Follow-up on Transactions, Magnesium Prices Accelerate Decline Today] SMM June 16 News: Affected by insufficient follow-up on market transactions, magnesium plants in the Fugu region slightly lowered their quotes today. The mainstream transaction prices in the market ranged from 16,000 to 16,100 yuan/mt, with individual traders choosing to sell at lower prices, bringing the magnesium market atmosphere back to a wait-and-see stance.

[SMM Adds New 9990 Magnesium Ingot CIF (Netherlands) Price] To promote the international trade of magnesium ingots, help upstream and downstream enterprises worldwide better grasp market dynamics, obtain timely spot market information, reduce cross-border transaction risks and costs, and deepen research on the magnesium ingot industry chain, SMM will add and publish a new 9990 magnesium ingot CIF (Netherlands) price point starting from June 19, based on comprehensive market surveys, to provide references for the international market.