Inventory Under Pressure, Producers Offer Discounts, Demand Sluggish, Magnesium Market in the Doldrums [SMM Spot Magnesium Ingot Express]

Published: Jun 10, 2026 18:30

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[Inventory Under Pressure, Producers Offering Discounts; Weak Demand, Magnesium Market in the Doldrums] Today, the quoted price for 99.90% magnesium ingot in main producing areas was 16,300 yuan/mt, unchanged from yesterday.

SMM June 10 Flash:

Today, the quoted price for 99.90% magnesium ingot in the main production area was 16,300 yuan/mt, unchanged from yesterday; the FOB offer was $2,310-2,400/mt, also unchanged from yesterday.

The magnesium ingot market was under pressure today. Supply side, producers faced continued inventory pressure and generally accepted low-price shipments, with some small plants or futures orders transacting at a low of 16,250 yuan/mt. Demand side, downstream orders had not yet recovered significantly, and traders only restocked for immediate needs. In foreign trade, the FOB price at Tianjin port was around $2,310-2,400/mt. The small fluctuations in magnesium ingot prices were not enough to drive adjustments in FOB offers. Although producers' willingness to sell at low prices was limited, normal shipments continued. Overall market confidence was weak, and the market is expected to remain in the doldrums in the short term.

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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