Magnesium prices consolidate, market competition continues [SMM spot magnesium ingot report]

Published: Jul 3, 2025 20:01

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[SMM Spot Magnesium Ingot Report: Magnesium Prices Consolidate Sideways, Market Game Continues] SMM reported on July 3 that today's Fugu magnesium ingot prices were quoted at 16,100-16,200 yuan/mt (FOB $2,220-$2,300), remaining stable for several consecutive days. The market exhibited characteristics of "consolidation at low prices and high willingness to refuse to budge on prices": factories maintained a strategy of refusing to budge on prices, with active shipments of futures orders, and frequent trading by traders as the shipment date approached. Despite an increase in inquiries for magnesium alloy and other products, downstream buyers drove down prices, resulting in limited actual transactions. The game between buyers and sellers continued. It is expected that in the short term, magnesium prices will still be dominated by producers, maintaining a doldrums trend.

SMM reported on July 3 that today, magnesium ingot prices in Fugu region were quoted at 16,100-16,200 yuan/mt, unchanged from yesterday; the China FOB (Free On Board) price remained steady at 2,220-2,300 US dollars/mt.

Currently, the magnesium ingot market continues to consolidate at low levels, with factories still showing strong reluctance to budge on prices. Shipments of futures contracts remain active. As the delivery shipment date approaches, the trading frequency of traders has increased. According to feedback from foreign traders, although market inquiries have increased, especially for magnesium alloy products, actual transaction orders remain limited due to the firm attitude of downstream customers in driving down prices. The overall trading volume in the market remains low, with buyers and sellers continuing to engage in price negotiations. It is expected that magnesium ingot prices in the future market will still be dominated by producers, with an overall weak and stable trend likely to persist.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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