[SMM Spot Magnesium Ingot Market Update: Fugu Magnesium Ingot Prices Adjusted Downward Under Pressure, Domestic and Foreign Trade Markets Show "Hot Domestic, Cold Foreign" Pattern] On September 12, the ex-factory offer for magnesium ingots in the Fugu region was lowered by 100 yuan/mt to 16,600-16,700 yuan/mt, with the FOB offer at $2,370/mt. Market trading was active, with some magnesium plants selling at low prices of 16,500 yuan/mt, attracting active purchases from traders. The single-day trading volume reached 1,600 mt. The foreign trade market showed a stalemate, with 80% of traders refusing new orders and insisting on high prices including taxes. However, a small number of shipping orders were still concluded at low prices today, highlighting the ongoing tug-of-war between sellers and buyers.

After nearly half a month of a tug-of-war between sellers and buyers in the magnesium market, the future trend has been determined, with the supply-demand balance tilting once again toward downstream buyers. Recently, magnesium prices have shown a slow downward trend. As of the time of writing, the price of 99.90% magnesium ingot in the main production areas has fallen below the 17,000 yuan/mt mark, with mainstream quotations from magnesium plants ranging around 16,800-16,900 yuan/mt. However, considering that although magnesium plant inventories have increased, they remain at a multi-year low, has the downward channel for magnesium prices already opened?

[SMM Magnesium Morning Meeting Minutes: Tug-of-War Between Sellers and Buyers Continues, Short-Term Market in the Doldrums] Yesterday, mainstream quotations for magnesium ingot in the Fugu area were 16,700-16,800 yuan/mt, down 100 yuan/mt from the previous trading day. In the short term, magnesium prices will face multiple pressures, including supply surplus, continuously accumulating inventory, and delayed downstream demand. The overall market is expected to remain under pressure.

[SMM Magnesium Weekly: Prices Under Pressure, Downward Trend; Downstream Watches and Waits for Consensus on Bottoming Out] This week, the magnesium market overall showed a pattern of weak supply and demand, with prices under pressure and moving downward. Raw material side, dolomite prices held steady, regional supply diverged but overall remained stable, and expectations for demand growth weakened. Market pessimism prevailed in the magnesium ingot sector, with offers in major production regions down 200 yuan/mt MoM. Although transaction volumes increased consecutively, downstream batch purchasing and magnesium plants competing to sell led to continued price weakness, with no signs of stabilization yet. On the export side, affected by the RMB exchange rate and policy expectations, FOB offers fluctuated and remained deadlocked, with traders reluctant to sell at low prices. Later, as the customs declaration deadline approaches, low-priced resources will decrease. Both magnesium powder and magnesium alloy prices followed magnesium ingot downward. Magnesium powder trading was active, but order sizes were smaller than in previous years. Magnesium alloy, however, benefited from demand support in areas such as new energy vehicles, with spot supply tight, and processing fees expected to remain firm. Overall, the market is still in the process of hitting bottom. Subsequently, attention should be paid to whether increased transaction volumes and enterprise consensus formation can drive magnesium prices to hit bottom and rebound.

[SMM Domestic Analysis: Magnesium Market in Autumn: Supply-Demand Mismatch Puts Magnesium Prices Under Pressure—Can the Market Overcome Multiple Challenges?] After nearly half a month of tug-of-war between sellers and buyers in the magnesium market, the future trend has been determined, with the supply-demand balance tilting once again toward downstream buyers. Recently, magnesium prices have shown a slow downward trend. As of the time of writing, the price of 99.90% magnesium ingot in the main production areas has fallen below the 17,000 yuan/mt mark, with mainstream quotations from magnesium producers ranging between 16,800–16,900 yuan/mt. However, considering that although inventory at producers' warehouses has increased, it remains at a multi-year low, has the downward channel for magnesium prices already opened?

Amid the global automotive industry's shift toward electrification and lightweighting, magnesium alloys are gaining prominence due to their lightweight potential, cost efficiency, and China’s abundant resources. Current magnesium use reaches nearly 20 kg in premium NEVs and 800 kg in commercial vehicle pilots, with a industry target of 45 kg per vehicle by 2030. This article analyzes magnesium’s applications, advantages, and challenges, highlighting its role in reducing emissions and advancing automotive lightweighting.

[SMM Magnesium Morning Session Minutes: Raw Materials Hold Steady, Magnesium Ingots Under Pressure, Divergent Demand Between Alloys and Powder] On September 11, the magnesium market overall exhibited the characteristics of stable raw materials and divergent finished products. Raw material side, dolomite prices remained stable with ample supply; ferrosilicon futures fluctuated rangebound, while spot cargo awaited guidance from steel tenders. The magnesium ingot market saw active trading but prices continued to decline, with mainstream transaction prices falling to 16,750-16,800 yuan/mt. Export orders shrank and downstream wait-and-see sentiment was strong, with prices expected to retain further downside room in the short term. For magnesium alloys, although prices weakened in tandem with magnesium ingots, supported by demand from sectors such as NEVs, spot supply was tight at some plants and processing fees remained firm. The magnesium powder market saw active trading with robust supply and demand, but offers were lowered due to declining magnesium ingot costs. Overall, the market showed a pattern of domestic demand stronger than exports and divergent demand for downstream products.

[SMM Magnesium Spot Report: Magnesium Prices Edged Down Today With Active Trading but Downward Pressure Remained] On September 10, the offer prices of magnesium ingots in Fugu region were 16,800-16,900 yuan/mt, down 50 yuan from the previous trading day; the FOB offer was $2,380/mt. The market trading atmosphere was active, with a trading volume exceeding 1,000 mt. Mainstream transaction prices settled in the range of 16,750-16,800 yuan/mt, with some prices probing further downward. Export orders have decreased noticeably recently, and downstream players mostly adopted a wait-and-see stance, showing limited acceptance of high offers. The market supply and demand were in a stalemate. The current FOB offer remains at a relatively high range of $2,380-2,410/mt, and magnesium ingot prices are expected to have further downside room within the week.

[SMM Magnesium Morning Meeting Summary: Weak Demand and Supplier Concessions in Stalemate, Short-Term Market to Remain in the Doldrums] Yesterday, mainstream quotations for magnesium ingot in Fugu region stood at 16,850-16,950 yuan/mt, down 50 yuan/mt from the previous working day. The China FOB price was quoted at $2,350-2,410/mt. In the short term, magnesium prices will face multiple pressures including supply surplus, continuous inventory accumulation, and delayed downstream demand, with the overall market expected to remain under pressure.