Bullish Sentiment Prevailed, Magnesium Prices Remained Firm Today [SMM Magnesium Morning Meeting Minutes]

Published: Sep 18, 2025 09:21
[SMM Magnesium Morning Meeting Summary: Strong Sentiment for Price Increases, Magnesium Prices Held Firm Today] Yesterday, mainstream quotations from magnesium plants stood at 16,800 yuan/mt. Influenced by rising raw material prices such as ferrosilicon, coal, and dolomite, magnesium prices bottomed out.

SMM September 18 Magnesium Morning Meeting Minutes:

Magnesium Raw Material

Prices

Ex-factory prices excluding tax for 1-3 cm dolomite (Wutai) were 108 yuan/mt, flat from the previous working day; ex-factory prices excluding tax for 2-4 cm dolomite (Wutai) were 128 yuan/mt, flat from the previous working day; mainstream ex-factory prices for 75 ferrosilicon in Shaanxi were 5,900 yuan/mt.

Supply and Demand

Dolomite prices currently fluctuate upward. Magnesium plants in main production areas maintain normal production and conduct routine stockpiling, with strong support from the demand side. Wutai dolomite quotations increased, awaiting follow-up from downstream. Yesterday, the most-traded ferrosilicon futures contract, fer2509, closed at 5,766, up 14 or 0.24%. In the spot market, ferrosilicon producers maintained stable supply. Steel mills stockpiled ahead of the National Day holiday, and ferrosilicon steel tenders performed well. Supported by demand, ferrosilicon prices held up well.

Magnesium Ingot

As of the previous working day, mainstream quotations for magnesium ingot in Fugu were 16,800 yuan/mt, up 100 yuan/mt from the previous working day; China FOB prices were $2,380-2,410/mt.

Supply and Demand

Yesterday, mainstream magnesium plant quotations were 16,800 yuan/mt. Magnesium prices bottomed out, influenced by rising prices of raw materials such as ferrosilicon, coal, and dolomite. However, considering the large, concentrated release of orders last week, a brief order gap is expected. Demand support has weakened, making it relatively difficult for magnesium prices to rise further. The magnesium market is expected to fluctuate rangebound in the short term, with relatively small possibilities of significant rises or falls.

Magnesium Alloy

As of the previous working day, mainstream tax-included ex-factory prices for China's magnesium alloy market were 18,400-18,550 yuan/mt; China FOB prices were $2,590-2,630/mt.

Supply and Demand

Yesterday, magnesium alloy prices rose slightly. Some magnesium alloy enterprises are currently shipping according to their production schedules. According to SMM, some magnesium alloy enterprises have orders scheduled until early next month. Spot resources in the magnesium alloy market are tight. Affected by this, some magnesium alloy enterprises raised their alloy processing fee quotations. However, downstream die-casting plants currently exhibit a strong fear of high prices, and high-priced transactions await follow-up.

Magnesium Powder

Prices

As of the previous working day, mainstream tax-included ex-factory prices for 20-80 mesh magnesium powder in China were 17,900-18,000 yuan/mt; China FOB prices were $2,540-2,570/mt.

Supply and Demand

Yesterday, magnesium powder prices rose slightly, supported by raw material costs. Due to the concentrated release of previous orders, market transactions decreased compared to the previous day. Currently, the supply side maintains a relatively saturated production schedule and normal production pace. New orders from the overseas market are limited, and overall demand is relatively mediocre.

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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