Producers show strong reluctance to budge on prices, and the market is waiting for demand to recover [SMM magnesium ingot spot cargo bulletin]

Published: Aug 5, 2025 18:47

Save

[SMM Magnesium Ingot Spot Report: Strong Reluctance to Budge on Prices Among Producers, Market Awaits Demand Recovery] On August 5, magnesium ingot prices in the Fugu region were quoted at 17,050-17,150 yuan/mt, with FOB prices at $2,340-$2,440/mt. Market transactions were sluggish, but producers showed a clear reluctance to budge on prices, with some manufacturers signing futures orders at 17,050 yuan/mt. A Japanese trading company's tender for 99.90% magnesium ingot was concluded at a FOB price of $2,320/mt. Affected by the traditional off-season, both domestic and overseas market transactions remained sluggish, with some magnesium producers initiating maintenance plans in early August. It is expected that a new tug-of-war between sellers and buyers will emerge in the market by mid-August, with short-term prices likely to remain in the doldrums. SMM will continue to monitor market developments.

SMM reported on August 5: Today, the ex-factory quotes for magnesium ingot in the Fugu area ranged from 17,050 to 17,150 yuan/mt, with an average market price of 17,100 yuan/mt; the FOB quotes ranged from $2,340 to $2,440/mt.

Currently, the magnesium ingot market is experiencing sluggish trading, but producers still maintain a strong reluctance to budge on prices, with some producers signing futures orders at a price of 17,050 yuan/mt. According to the SMM survey, influenced by the traditional off-season, trading in both domestic and overseas markets has remained sluggish this week, and some magnesium plants have started maintenance plans one after another in early August. A Japanese trading company completed a tender purchase for 99.90% magnesium ingot (Mg≥99.90%) today, with the final transaction price set at $2,320/mt FOB and the delivery date scheduled for the end of September. The market anticipates a new round of tug-of-war between sellers and buyers in mid-August, with magnesium prices likely to remain in the doldrums in the short term.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

22 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

22 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

22 hours ago