SMM reported on June 25 that today, magnesium ingot prices in the Fugu region were quoted at 16,100-16,200 yuan/mt, up 100 yuan from the previous trading day; while China's FOB prices remained unchanged at 2220-2280 US dollars/mt.
Currently, the price fluctuation range in the magnesium market has narrowed, with recent market prices fluctuating within a 100-200 yuan range. The slight price increase today mainly stems from producers' attempts to raise quotes again after a stalemate in the previous days, but actual demand orders remain weak, and market trading activity is low. With large-order purchases gradually completed, it is difficult to see a large-scale price increase in the short term. Supply side, magnesium ingot producers' production remains stable, with the impact of production resumptions and shutdowns among producers this month offsetting each other, having limited impact on overall production. Producers' inventory levels remain weak, and price trends are more driven by news-related factors.
In overseas markets, trading was relatively active last week, with FOB transaction prices generally below $2200/mt, and payment terms mostly extending into July and August. Currently, overseas customers have completed their phased purchases and have re-entered a wait-and-see stance, with actual contracted prices not following the increase in domestic ex-factory prices and still fluctuating within a low range.
Overall, magnesium prices have gradually entered a relatively stable phase, with insufficient upward momentum for subsequent price increases. Prices may rise slightly when approaching the next purchasing period.
