Supply Pressure Reemerges, Magnesium Prices Fall Under Pressure [SMM Spot Magnesium Ingot Express Report]

[SMM Magnesium Ingot Spot Report: Supply Pressure Reemerges, Magnesium Prices Fall Under Pressure] On October 28, the ex-factory offer for magnesium ingots in the Fugu area was lowered to 16,100–16,400 yuan/mt, with the FOB offer at $2,310/mt. Market trading volume increased significantly, with the single-day trading volume exceeding 1,000 mt and the mainstream transaction price at 16,100 yuan/mt. According to an SMM survey, some magnesium plants are expected to resume production, and the industry operating rate continues to rebound. Some small plants are releasing inventory pressure through futures presales, and market sentiment remains bearish. Magnesium prices are expected to remain under pressure in the short term.