Magnesium ingot prices pull back, and the market enters a stalemate phase again [SMM Magnesium Ingot Spot Flash Report]

SMM, June 23 - Today, magnesium ingot prices in the Fugu region were quoted at 16,000-16,100 yuan/mt, down 200 yuan from the previous trading day. The China FOB price was quoted at $2,220-2,280/mt.

In the domestic market, after two days of price stalemate, magnesium prices pulled back to 16,050 yuan/mt. This price decline was mainly due to a weak supply and demand situation: factory inventories remained low and production tightened, while downstream purchases were largely completed at previous low prices, compounded by the impact of the seasonal demand off-season, leading to narrow price fluctuations and a significant contraction in trading volume. The FOB price in overseas markets fell to $2,250/mt, with transactions leaning towards the low-end of the comprehensive quotation range. Terminal users had strong bearish expectations and significant price-driving behavior, adopting a more cautious procurement attitude.

The current pullback in magnesium prices indicates that the market has entered a phase of negotiation. Considering the impact of the traditional consumption off-season, prices are expected to remain weak and stable, with a low likelihood of significant fluctuations.