Today's Magnesium Ingot Quotations Slightly Lowered, Cost Support Strengthens, Market Expects Refusal to Budge on Prices [SMM Magnesium Ingot Spot Report]

Published: Sep 16, 2025 18:18

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[SMM Spot Magnesium Ingot Quick Report: Magnesium Ingot Quotes Slightly Lowered Today, Cost Support Strengthens, Market Expects Firm Prices in the Future] On September 16, magnesium ingot ex-factory quotes in the Fugu region were 16,600-16,700 yuan/mt, a slight decrease of 50 yuan/mt compared to the previous day, with FOB prices at $2,390/mt. Market transactions were generally good, and magnesium producers showed increased willingness to raise prices in the afternoon. Due to the rise in dolomite raw material prices, cost support has strengthened. Magnesium prices are expected to continue their firm trend this week, with the market showing a stalemate with a slight upward bias.

SMM September 16: Today, the offer for magnesium ingot in Fugu was 16,600-16,700 yuan/mt ex-works, down 50 yuan from the previous trading day. The FOB offer was $2,390/mt.

Market transactions performed well today. In the morning, transaction prices were mostly concentrated at 16,600 yuan/mt. In the afternoon, magnesium ingot producers showed stronger reluctance to budge on prices, with some offers raised to 16,700 yuan/mt and a small number of transactions concluded. Overseas orders also rebounded, mostly for immediate delivery.

According to SMM, starting from the early morning of September 17, the price of dolomite will increase: 1-3 material will rise to 108 yuan/mt, up 30 yuan/mt MoM; 2-4 material will increase to 138 yuan/mt, up 10 yuan/mt MoM. Supported by costs, magnesium ingot producers are expected to continue to refuse to budge on prices this week, and market prices may hold up well amid a stalemate.

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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