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

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.