[SMM Magnesium Morning Meeting Summary: Magnesium Market in a Stalemate, Magnesium Prices Stabilizing] Prices of raw materials ferrosilicon and coal are in the doldrums. Magnesium plants are on the verge of resuming production, which will increase supply. However, domestic demand is weak, foreign trade orders are pulling back, and under the expectation of strong supply and weak demand in the future market, industry insiders have a strong bearish sentiment.

[SMM Spot Magnesium Ingot Bulletin: Supply and Demand Deadlock Intensifies, Magnesium Prices Hold Steady Today] SMM June 24 News: Today, magnesium producers exhibit a strong reluctance to budge on prices. The mainstream quotations for magnesium ingots in the Fugu region are 16,000-16,100 yuan/mt. The availability of low-priced cargo has decreased compared to the previous day, and downstream purchase willingness remains low. Magnesium prices remain stable amid the deadlock.

[SMM Magnesium Morning Meeting Summary: Magnesium Market Shows Pullback Trend, Raw Material Prices Hold Steady, Magnesium Ingot Under Pressure] The overall magnesium market price is in the doldrums. For magnesium ingot, the transaction price in the Fugu region is 16,000-16,100 yuan/mt, down 200 yuan from the previous day; the FOB quote is $2,220-2,280/mt. The mainstream ex-factory price of magnesium alloy is 17,800-18,000 yuan/mt, and the quote for magnesium powder is 17,300-17,500 yuan/mt. Prices of raw materials have held steady, with the tax-excluded price of dolomite (Wutai) at 78-128 yuan/mt and 75 ferrosilicon at 5,600-5,700 yuan/mt. The current market is generally characterized by weak supply and demand, with downstream procurement being cautious. It is expected that the market will maintain a weak consolidation trend in the short term.

[SMM Magnesium Ingot Spot Cargo Flash Report: Magnesium Ingot Prices Pull Back, Market Enters Stalemate Phase Again] On June 23, Fugu magnesium ingot was quoted at 16,000-16,100 yuan/mt, with FOB quotes at $2,220-2,280/mt. Domestic prices pulled back to 16,050 yuan/mt, primarily due to weak supply and demand: factories operated with low inventory, but downstream procurement slowed down, coupled with the off-season effect, resulting in a sharp decline in transactions. Overseas buyers significantly drove down prices, with actual FOB transactions leaning towards the lower price range. The current market has entered a game phase, and it is expected to maintain a doldrums pattern in the short term.

[SMM Magnesium Morning Meeting Summary: Reluctance to Budge on Prices Intensifies, Magnesium Prices Stabilize at Highs] The suspension of dolomite production in Shanxi continues, and oversupply of ferrosilicon leads to insufficient cost support. Magnesium plants are on the verge of resuming production, increasing supply, while domestic demand remains weak and foreign trade orders pull back. Amidst the intensifying supply-demand imbalance, there is a strong bearish sentiment in the market.

[SMM Weekly Magnesium Review: Stalemate Evident, Magnesium Prices Fluctuate Upward This Week] Recently, influenced by news related to the resumption of work in major production areas, the market has been more bearish on future magnesium prices. This week, magnesium ingot prices fluctuated rangebound, with a clear stalemate between supply and demand. As of the time of publication, the mainstream transaction prices of 99.90% magnesium ingot in major production areas today were 16,200-16,300 yuan/mt, up 200 yuan/mt from last Friday.

Reviewing China's magnesium market in H1 2025, the long-term concentrated production halts at magnesium plants quietly reversed the supply-demand imbalance. Tight spot supply and low inventory levels created a solid foundation for periodic price increases in the magnesium ingot market. Market sentiment was frequently disrupted by news such as "solid waste burial," "dolomite mine shutdowns in the Wutai region," and "environmental protection checks deployment," leading to frequent price fluctuations.

[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.]