Market trading is sluggish, and producers' reluctance to budge on prices has increased [SMM magnesium ingot spot cargo bulletin]

SMM reported on August 7 that today, the ex-factory quotation for magnesium ingots in the Fugu area was 17,200-17,300 yuan/mt, with an average price of 17,250 yuan/mt, up 150 yuan from the previous trading day; the FOB quotation remained unchanged at 2,340-2,440 US dollars/mt.

In terms of market transactions, today's mainstream transaction prices stabilized at the 17,200 yuan/mt level, but overall trading volume decreased compared to before. It is understood that the current reluctance of magnesium producers to budge on prices continues to strengthen, mainly due to the digestion of some inventory through futures orders in the early stage, with in-plant inventory remaining low. In overseas markets, downstream buyers' wait-and-see sentiment has gradually intensified, and their willingness to place orders has weakened recently. Currently, the mainstream quotation range in the FOB market has narrowed slightly to 2,380-2,390 US dollars/mt, with a clear tug-of-war between sellers and buyers.