Magnesium Ingot Transactions Increased, Rigid Demand Support Became More Evident, and a One-Sided Market Trend Was Unlikely in the Short Term [SMM Spot Magnesium Ingot Flash Report]

Today, quoted prices in major producing areas for 99.90% magnesium ingot were 16,600-16,700 yuan/mt. Low-priced cargoes in the market increased, spot trading activity improved, and single-day trading volume exceeded 3,000 mt. On the price front, the market remained in the doldrums due to ample supply; on the demand side, downstream buyers showed greater acceptance of current price levels, with evident support from just-in-time procurement. Coupled with cost and inventory factors, bottom support was solid and market resilience stood out, leaving limited room for a sharp short-term decline. Magnesium prices were expected to be driven mainly by consolidation in the later period, with sellers and buyers continuing to compete, bullish and bearish forces remaining balanced, and prices unlikely to see any obvious one-sided change, while the overall market maintained a pattern of sideways movement within a range.