Cost-Driven Factors and Concentrated Procurement Push Up Fugu Magnesium Prices, Trading Slows After Single-Day Surge [SMM Spot Magnesium Ingot Express]

Published: Nov 5, 2025 18:41

Save

[SMM Magnesium Ingot Spot Market Update: Cost-Driven Factors and Concentrated Procurement Lead to Single-Day Price Surge in Fugu, Followed by Slower Trading] On November 5, trading activity in the Fugu magnesium ingot market was brisk, with transactions exceeding 1 kt at prices ranging from 16,100 to 16,150 yuan/mt in the morning. Subsequently, supported by a sudden increase in coal costs, magnesium ingot producers uniformly held prices firm in the afternoon, raising mainstream quotations to 16,200 yuan/mt. After the price increase, buying interest in the market pulled back, with downstream buyers shifting to a wait-and-see approach, leading to an overall slowdown in the trading atmosphere.

SMM November 5: Mainstream quotations for magnesium ingots in the Fugu area today were 16,200 yuan/mt, with FOB prices at $2,300/mt.

During the morning session, the main trading range was 16,100-16,150 yuan/mt, with trading volume exceeding 1,000 mt. Due to a sudden increase in coal prices on the cost side and active trading, magnesium ingot producers uniformly held prices firm starting in the afternoon, and current market offers have generally risen to 16,200 yuan/mt. However, after the price hike, market wait-and-see sentiment significantly intensified, and trading activity cooled. Magnesium prices are expected to continue fluctuating rangebound in the near term, with the tug-of-war between sellers and buyers persisting.

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