》View SMM Magnesium Spot Quotations, Data, and Market Analysis
》Click to View SMM Magnesium Spot Historical Prices
Today, the mainstream quotations for magnesium ingot smelters in Fugu and Shenmu regions of Shaanxi were 15,700 yuan/mt, and the transaction price for 99.9% magnesium ingot was also 15,700 yuan/mt, with magnesium prices steadily rising.
From today's transaction performance, magnesium prices fluctuated at highs, with downstream acceptance declining. Some end-user enterprises indicated that pre-holiday stockpiling had been completed. The upward momentum for magnesium prices appears limited; however, considering the reduced destocking pressure on the supply side, the sentiment to stand firm on quotes remains strong. It is expected that magnesium prices will remain firm at highs in the near term. SMM will continue to monitor subsequent changes in spot transactions.
