Morning Purchases Boost Magnesium Prices, Edging Up Slightly; High Inventory and Weak Demand Suppress Upside Room [SMM Spot Magnesium Ingot Express]

Published: Jul 7, 2026 17:52

Save

[Morning Purchases Lift Magnesium Prices Slightly; High Inventory and Weak Demand Cap Upside Room] The quotation for 99.90% magnesium ingot in main production areas was at 15,800-15,900 yuan/mt today, up from the previous working day.

SMM Flash, July 7:

Today, mainstream quotations in the Fugu region for magnesium ingot were 15,800-15,900 yuan/mt; China FOB prices were $2,230-2,350/mt.

Today, magnesium ingot prices stopped falling and rebounded. In the morning, driven by purchases from social speculative capital entering the market, magnesium ingot producers showed a stronger willingness to hold prices firm. Subsequently, the market saw small-scale restocking for rigid demand, and overall transactions improved. Quotations for standard magnesium ingot rose to 15,900-16,000 yuan/mt, while prices for national-standard 99.90% magnesium ingot edged up to 16,000-16,100 yuan/mt. At present, supply remains ample, and producers are holding prices firm and holding back from selling. On the demand side, downstream buyers have not yet shown concentrated restocking, and the pattern of strong supply and weak demand remains unchanged. In the short term, the supply-demand imbalance between high inventory and weak demand persists. Whether prices will continue to rise later will depend on the progress of maintenance implementation at plants and the release of downstream demand.

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

7 hours ago

Magnesium ingot futures edge up slightly, downstream purchases on demand lack upward momentum [SMM Magnesium Ingot Spot Express]

[Magnesium Ingot Futures Edge Higher, Downstream Purchases on Demand, Upward Momentum Lacking] Today, the magnesium ingot market continued to hold up well. Supply-side EXW prices rose, but the demand side remained sluggish, leaving the market with only small volumes of just-in-time procurement.

7 hours ago

9 hours ago

Latrobe Magnesium Reaches 50% Construction Milestone, Aims for Second-Half Magnesium Production

[SMM Magnesium Express]Today, Latrobe Magnesium in Australia released the latest progress of its demonstration plant Phase 1B: the project construction has been completed by 50%, the prototype furnace testing has been successfully completed, the core support design has been verified at an operating temperature of 1180 ° C, and a key technical risk has been overcome. The installation of the block pressing system is basically completed and is about to enter debugging. The company maintains its target of producing the first batch of magnesium metal in the second half of the year unchanged. With the steady progress of the project, its low-carbon process route for extracting magnesium metal from industrial waste is expected to be gradually validated, providing new technological options for the diversified layout of the global magnesium supply chain.

9 hours ago

Lanxi High-Tech Zone Builds Magnesium Industry Chain, Aims to Be Innovation Hub in Yangtze River Delta

[SMM Magnesium Express]Recently, according to the Integrated Media Center of Lanxi City, Lanxi High tech Zone is focusing on building the entire magnesium industry chain and striving to create a "first mover of magnesium good scenes" with high standards. At present, a provincial-level magnesium material professional testing platform has been established in the district, gathering more than 90 professional talents. The pilot base has completed the development of nearly 30 samples and the trial production of more than 4000 products. There are currently 10 magnesium industry projects with a total investment of 2.88 billion yuan. Meanwhile, the East China Light (Magnesium) Alloy Distribution Center, covering an area of over 250 acres, is about to commence construction. With the continuous improvement of the "one hospital, one park, one base" architecture, the cluster development trend of Lanxi magnesium material industry is becoming increasingly evident, and it is expected to become a new highland for technological innovation and scene application of magnesium industry in the Yangtze River Delta region.

9 hours ago