Magnesium Market Weakness Continues, Transactions Under Pressure[SMM Spot Magnesium Ingot Report]

Published: Jun 17, 2026 18:24

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[Magnesium Market Remained Weak, Transactions Under Pressure] Today, the magnesium ingot market continued to remain in the doldrums. The pattern of strong supply and weak demand was hard to change. Producers' inventory pressure grew, offers dipped but transactions were scarce. Coupled with insufficient new orders from outside China and rising ocean freight rates curbing exports, magnesium prices still faced downward pressure in the short term.

SMM June 17 Flash:

On June 17, mainstream quotations for magnesium ingot in the Fugu region were 16,250-16,300 yuan/mt; China FOB price was $2,310-2,400/mt.

On June 17, the magnesium ingot market remained in the doldrums. Supply side, producer inventory pressure persisted, shipments were sluggish, and market quotations dropped to as low as 16,250 yuan/mt, down 50 yuan/mt from this morning's quotation, but downstream purchase willingness was low, with scarce actual transactions. Demand side, downstream purchasing sentiment was subdued, new export orders were insufficient, compounded by a sharp rise in ocean freight rates, export transactions were hindered. The overall pattern of strong supply and weak demand was hard to change, and magnesium prices still faced downward pressure in the short term, with attention on producer production cuts and changes in export orders.

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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