Fugu Magnesium Ingot Offers Rise, Trading Remains Sluggish Awaiting Volume Increase [SMM Spot Magnesium Ingot Express]

Published: Nov 3, 2025 18:14

Save

[SMM Magnesium Ingot Spot Report: Fugu Magnesium Ingot Offers Increased, Trading Remains Thin Awaiting Volume] Today, magnesium ingot ex-factory offers in the Fugu area increased slightly by 50 yuan/mt to 16,100-16,200 yuan/mt, while mainstream transaction prices in the market remained stable at 16,100-16,150 yuan/mt, though overall trading volume was limited. Supported by the recent stabilization of ex-factory prices and an increase in overseas inquiries, traders showed stronger pricing sentiment, with the FOB transaction range moving up to $2,270-2,350/mt, reflecting a pattern of strength overseas and stability domestically. The market is currently caught between cost support and insufficient demand follow-up in the short term, and a wait-and-see sentiment persists.

Today, ex-factory offers for magnesium ingots in the Fugu area were 16,100-16,200 yuan/mt, a slight increase of 50 yuan/mt from the previous trading day; the FOB reference offer was $2,305/mt. Although mainstream transaction prices remained in the range of 16,100-16,150 yuan/mt, overall market transactions were sluggish.

Affected by the stabilization and strengthening of ex-factory prices since last weekend, traders generally raised their offers slightly. Meanwhile, recent overseas inquiries increased, pushing the US dollar transaction price up to a relatively high level of $2,270-2,350/mt.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

18 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

18 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

18 hours ago