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

Published: Jul 28, 2026 18:01

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[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.

SMM July 28 News Flash:

Today, mainstream quotations for national standard 99.9% magnesium ingot in Fugu area were 16,000-16,100 yuan/mt, and for national standard 99.8% magnesium ingot were 15,950-16,050 yuan/mt. China FOB price was reported at $2,260-2,360/mt.

The magnesium ingot market continued to hold up well today. Supply side, magnesium ingot bottomed out and rebounded to 16,000 yuan/mt earlier, driven mainly by the news that a top-tier producer would purchase unlimited quantities at 15,750 yuan/mt, triggering intensive restocking by traders and increasingly firm producer offers. Demand side, month-end delivery order purchases did not see a surge in volume. The export market remained weak, with no clear signs of recovery yet. Overall transactions today were mediocre, with intense bargaining between upstream and downstream. In the short term, magnesium ingot prices stayed high but lacked upward momentum. Future trends will need continuous tracking of actual transaction changes.

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