Magnesium Market Under Pressure, Struggling to Rise Due to Weak Demand [SMM Spot Magnesium Ingot Express]

Published: Aug 25, 2025 18:29

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[SMM Magnesium Ingot Spot Update: Weak Magnesium Market Struggles to Rise Due to Sluggish Demand] SMM reported on August 25 that the magnesium market started the week with a weak and stable performance. Although supply-side pressures gradually emerged, the demand side failed to provide effective support. Overseas orders were "all talk and no action," while domestic consumption remained sluggish. Against the backdrop of a weakening supply-demand structure, magnesium prices lacked upward momentum and were expected to continue under pressure, operating around 17,200 yuan/mt in the short term.

SMM, August 25. Today, the ex-factory quotation for magnesium ingot in Fugu region was 17,200-17,300 yuan/mt, with an average price of 17,250 yuan/mt, down 50 yuan from the previous trading day; FOB quotation was $2,400/mt.

Today, magnesium prices were in the doldrums, with the market in a tug-of-war between sellers and buyers. In terms of supply, last week, mainstream magnesium producers saw a slight increase in production and inventory; on the demand side, overseas inquiries were active but large orders were limited, and domestic downstream purchasing sentiment was weak, resulting in insufficient overall demand support. Currently, magnesium prices are under pressure and consolidating at low levels, with mainstream quotations fluctuating around the 17,200 yuan/mt range.

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