Magnesium Prices Edged Down Today, with Active Market Trading but Downward Pressure Remaining [SMM Spot Magnesium Express]

SMM September 10 - Today, Fugu region magnesium ingot producers offered prices at 16,800-16,900 yuan/mt, down 50 yuan from the previous trading day; FOB offers stood at $2,380/mt.

Today, the magnesium ingot market saw active trading with good transaction performance, but prices continued to decline. According to SMM survey statistics, the daily trading volume exceeded 1,000 mt, with mainstream transaction prices in the range of 16,750-16,800 yuan/mt, and some transaction prices fell further. On the export side, recent orders significantly decreased, with downstream players mostly adopting a wait-and-see attitude and showing limited acceptance of high offers, resulting in a stalemate in supply and demand. Current FOB offers remain at a relatively high range of $2,380-2,410/mt. Magnesium ingot prices are expected to have further downside room within the week.