SMM Aug 4 Flash:
Today, the mainstream quotations for GB 99.9% magnesium ingot in the Fugu area were 15,900-16,000 yuan/mt, and those for GB 99.8% magnesium ingot were 15,850-15,950 yuan/mt; the China FOB price was reported at $2,240-2,340/mt.
The magnesium ingot market continued to consolidate in the doldrums, with the price center edging lower but bottom support holding. Mainstream spot quotations in major producing areas stood at 15,850-15,900 yuan/mt. In the morning, some large producers conducted concentrated selling at 15,850 yuan/mt, but purchases were limited and the trading atmosphere was subdued. Supplies at 15,800 yuan/mt remained tight, largely consisting of magnesium powder cargo, making it difficult to reflect mainstream actual transactions. While upstream producers' offers still appeared firm, room for negotiation on actual orders had quietly opened up. Meanwhile, downstream enterprises and traders remained on the sidelines due to weak end-user orders, with only sporadic rigid-demand deals concluded and low restocking willingness. In terms of foreign trade, FOB prices hovered at $2,240-2,340/mt. Ex-China clients pushed hard for lower prices, and combined with the summer break creating a demand vacuum, buying interest in the overseas market was hard to mobilize. Overall, the slow release of domestic demand and sluggish external demand exerted double pressure. The market lacked drivers from new orders, while tight supply of low-priced cargoes limited the downside. In the short term, magnesium prices are likely to consolidate on a subdued note within a narrow range.
![Magnesium ingot futures edge down, end-users are cautious in restocking [SMM Magnesium Ingot Spot Express]](https://imgqn.smm.cn/usercenter/qbMSp20251217171722.jpeg)
