Magnesium plants show strong reluctance to budge on prices, and the market is waiting for demand to be released. [SMM Spot Magnesium Ingot Report]

Published: Jul 30, 2025 17:54

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[SMM Magnesium Ingot Spot Cargo Update: Magnesium Ingot Producers Show Strong Reluctance to Budge on Prices, Market Awaits Demand Release] On July 30, magnesium ingot prices in Fugu region remained at 17,000-17,200 yuan/mt, with FOB prices at $2,350-$2,450/mt. Market transactions were sluggish, but producers showed a clear reluctance to budge on prices, mainly influenced by capacity control policies and planned maintenance in August. Current futures orders are expected to be delivered by early August, while downstream demand has only been sporadically released, with the overall market maintaining a wait-and-see attitude. The market anticipates tighter supply in August, with demand trends gradually becoming clearer, and short-term prices may continue to fluctuate at highs.

SMM reported on July 30 that today, the ex-factory price of magnesium ingots in Fugu was 17,000-17,200 yuan/mt, with an average price of 17,100 yuan/mt; the FOB quote was $2,350-2,450/mt.

Currently, the trading atmosphere in the magnesium market is sluggish, and producers show a strong reluctance to budge on prices. On one hand, influenced by policy guidance, they support prices by controlling capacity; on the other hand, the planned shutdown of some magnesium plants for maintenance in August will lead to a tightening of supply, and existing futures orders are expected to be delivered by early August. Demand side, there have been only sporadic transactions in the market recently, and some downstream demand has not yet been released. It is expected that the demand trend will become clearer in August. Currently, magnesium prices still hover at highs.

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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