The magnesium ingot market continues to show strong supply and weak demand, with Chinese and overseas markets both weakening simultaneously [SMM spot magnesium ingot news flash]
[Magnesium Ingot Market Continues Strong Supply and Weak Demand, Chinese and Overseas Markets Both Weaken] The magnesium ingot market is in the doldrums, with offers at 15,750-15,850 yuan/mt and FOB $2,240-2,340/mt. Supply is ample but destocking is slow, downsteam buyers push for lower prices and wait, month-end restocking has not appeared, export orders face severe price cuts, and traders' profits are squeezed. Under the pattern of strong supply and weak demand, the market will continue to consolidate on a weak note in the short term.