Magnesium Market in the Doldrums, No Notable Fluctuations upon Returning to the Market at the Start of the Week [SMM Magnesium Ingot Spot Flash Report]

Published: Aug 10, 2026 18:33

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[Magnesium Market in the Doldrums, No Notable Fluctuations at Week’s Start] Today, magnesium ingot prices remained in the doldrums overall. Producers in major production areas held prices firm, but downstream demand follow-through remained weak. The market is expected to continue moving sideways in the short term.

SMM Flash News, August 10:

Today, mainstream quotations for GB 99.9% magnesium ingot in Fugu area were 15,900-16,000 yuan/mt, and for GB 99.8% magnesium ingot, mainstream quotations were 15,850-15,950 yuan/mt; China FOB prices were $2,240-2,340/mt, with magnesium prices remaining stable overall.

Today, the magnesium ingot market remained in the doldrums overall. China producers still showed willingness to hold prices firm, supported by costs, with scarcely available supply at low prices. FOB offers in futures were stable, but inquiries were scarce during the summer break outside China, and actual transaction prices and offers had a certain price spread. Demand side, overall performance was weak, with China's downstream remaining in the traditional off-season and bulk orders scarce. In the short term, the cost side provided some support to the bottom, but the off-season for domestic demand combined with the absence of overseas demand created dual pressure, leaving magnesium prices with insufficient upward momentum. It is expected to continue consolidating on a subdued note in a narrow range.

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