Inventory Under Pressure, Producers Offer Discounts, Demand Sluggish, Magnesium Market in the Doldrums [SMM Spot Magnesium Ingot Express]

Published: Jun 10, 2026 18:30

Save

[Inventory Under Pressure, Producers Offering Discounts; Weak Demand, Magnesium Market in the Doldrums] Today, the quoted price for 99.90% magnesium ingot in main producing areas was 16,300 yuan/mt, unchanged from yesterday.

SMM June 10 Flash:

Today, the quoted price for 99.90% magnesium ingot in the main production area was 16,300 yuan/mt, unchanged from yesterday; the FOB offer was $2,310-2,400/mt, also unchanged from yesterday.

The magnesium ingot market was under pressure today. Supply side, producers faced continued inventory pressure and generally accepted low-price shipments, with some small plants or futures orders transacting at a low of 16,250 yuan/mt. Demand side, downstream orders had not yet recovered significantly, and traders only restocked for immediate needs. In foreign trade, the FOB price at Tianjin port was around $2,310-2,400/mt. The small fluctuations in magnesium ingot prices were not enough to drive adjustments in FOB offers. Although producers' willingness to sell at low prices was limited, normal shipments continued. Overall market confidence was weak, and the market is expected to remain in the doldrums in the short term.

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 for 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

1 hour ago

Central and East Africa’s Mining Sector Moves Towards Greater Beneficiation

[SMM Express] Mining sectors across Central and East Africa are facing a changing operating environment as governments increase focus on resource nationalism, local content requirements and domestic mineral processing. Countries across the region are seeking to capture more value from their mineral resources by encouraging in-country beneficiation and strengthening state participation. Policies in Tanzania, Mozambique, Zambia and Ethiopia highlight a broader shift away from exporting raw materials towards developing local processing capacity. The region remains critical to global mineral supply chains, with the Democratic Republic of Congo (DRC) dominating cobalt exports, the Central African Copperbelt supporting major copper production and significant deposits of lithium, tantalum, niobium, tungsten and graphite found across several countries. However, mining investment continues to face challenges including security risks, regulatory uncertainty, infrastructure limitations and operational constraints. Several countries are also expanding strategic mineral classifications, which could lead to tighter export controls, increased royalties and greater government involvement.

1 hour ago

[SMM Analysis] Higher Chrome Ore and Ferrochrome Prices Cushion Merafe's H1 Earnings Despite Lower Ferrochrome Output

1 hour ago

2 hours ago

Anhui Benyu Accelerates 30,000 Ton Casting Project in Dingqiao, Expected to Boost Local Light Alloy Industry

[SMM Magnesium Express]Recently, Anhui Benyu Automotive Parts Co., Ltd. accelerated the construction of a 30000 ton casting precision machining project in Dingqiao Town, with the main structure expected to be topped out by the end of October. The total investment of this project is 260 million yuan, and the expected annual output value after reaching production is 277 million yuan, which will achieve a breakthrough in the regional magnesium aluminum light alloy industry. With the implementation of the project, the local magnesium aluminum light alloy industry chain is expected to further improve.

2 hours ago