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

Published: Oct 28, 2025 18:29

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[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.

SMM October 28: Today, the ex-factory offer for magnesium ingots in Fugu was 16,100-16,400 yuan/mt, down 100 yuan/mt from the previous trading day, with the FOB offer at $2,310/mt.

Market trading volume increased, with the single-day trading volume exceeding 1,000 mt, and mainstream transaction prices concentrated at 16,100 yuan/mt. Currently, bearish sentiment is relatively evident. According to an SMM survey, some magnesium plants plan to resume production soon, and with the industry's operating rate continuing to rebound since October, some small plants have started to release inventory pressure in advance by preselling futures. Overall, the market generally holds a bearish outlook on future magnesium price trends.

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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