Transactions Slightly Recovered, Magnesium Prices in the Doldrums [SMM Spot Magnesium Ingot Market Update]

Published: Sep 8, 2025 18:21

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[SMM Spot Magnesium Ingot Market Update: Slight Recovery in Transactions Amid Weak Price Trend] Today's Fugu magnesium ingot prices were quoted at 16,900-17,000 yuan/mt, with FOB offers at $2,385/mt, remaining stable but continuing in the doldrums. Market transactions showed slight improvement, as some foreign trade orders entered procurement to boost demand. Mainstream transaction prices stabilized at 16,900 yuan/mt, though the higher price range still lacked support. Overseas clients maintained a wait-and-see stance for post-October orders, with spot offers concentrated at $2,350-2,400/mt. The magnesium ingot market is expected to remain weak in the short term, with any substantial rebound contingent upon sustained demand recovery.

SMM reported on September 8 that today's ex-works offers for magnesium ingot in Fugu region stood at 16,900-17,000 yuan/mt, flat from the previous trading day, while FOB offers were at $2,385/mt.

The magnesium ingot market continued its tug-of-war between sellers and buyers, with prices remaining in the doldrums. Mainstream transaction prices held at 16,900 yuan/mt, though intraday trading activity showed slight improvement as some foreign trade orders entered the market, providing a modest boost to demand. However, transaction prices failed to stabilize at higher levels. Overseas markets maintained a wait-and-see stance, particularly exercising caution toward orders for October and later shipments, with spot offers mostly concentrated in the $2,350-2,400/mt range. Magnesium prices are expected to remain weak 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.

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