Tug-of-War Between Sellers and Buyers Intensifies, Magnesium Market Retreats After Rapid Rise, Price Center Shifts Downward [SMM Magnesium Ingot Spot Cargo Express]

Published: May 28, 2026 08:59

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[Tug-of-War between Sellers and Buyers Intensified, Magnesium Market Retreated after Rapid Rise, Price Center Shifted Downward] Today, the 99.90% magnesium ingot price in major producing areas was quoted at 16,600-16,700 yuan/mt, basically flat compared with earlier quotes, with increased low-priced supplies in the market.

SMM News on May 28:

Today, 99.90% magnesium ingot prices in major producing areas were quoted at 16,600-16,700 yuan/mt, basically flat compared with earlier quotes.

The magnesium market was in the doldrums today. This week, driven by rising raw material coal prices, magnesium prices surged to 16,700 yuan/mt. However, demand support in the magnesium market remained weak, and the sudden cooling of transactions caused panic sentiment to gradually spread. Moreover, the current pattern of strong supply and weak demand led to high intended shipments. Affected by this, some producers lowered prices to stimulate transactions, with low-priced sources appearing from time to time and dragging down market transaction expectations. Magnesium prices showed a weakening trend. As of this evening, some magnesium ingot shipment prices had been lowered to 16,500 yuan/mt.

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