Magnesium Ingot Market Remains Stagnant, with No Sign of Export Orders Recovering as Expected in the Short Term [SMM Magnesium Ingot Spot Report]

Published: Aug 11, 2026 18:12

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[Magnesium Ingot Market Stalemate Continues, No Signs of Export Orders Recovering as Expected in the Short Term] Magnesium prices held steady today. Sentiment to hold prices firm was high among primary magnesium smelters, but actual demand failed to pick up. The previously expected recovery in export orders, driven by the end of the overseas summer break, still showed no obvious improvement.

SMM August 11 Flash:

Today, mainstream quotations for 99.9% magnesium ingot in Fugu region were 15,900-16,000 yuan/mt, while those for 99.8% magnesium ingot in the same area were 15,850-15,950 yuan/mt; the China FOB price was reported at $2,240-2,340/mt.

Today, the magnesium ingot market both domestically and overseas remained stable overall. Domestic EXW prices maintained firmness, with mainstream prices at 15,900 yuan/mt, and low-priced cargo decreased, but market demand fundamentals did not improve, providing insufficient momentum for price changes. Demand side, although overseas market orders should have gradually been released with the end of summer break, the current trading atmosphere remained mediocre; downstream clients showed low purchase willingness, and the sentiment of pushing for lower prices was strong. In the short term, magnesium ingot prices are expected to see minimal trending movements, consolidating within a narrow range.

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.

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