Check SMM Magnesium Spot Prices, Data, and Market Analysis
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Mid-week, the magnesium market saw mediocre trading, with most transactions involving just-in-time procurement at lower prices. A small volume of trades was reported at 16,000-16,100 yuan/mt, and magnesium prices remained stable.
According to information from the main production areas, there is a significant difference in quotations among factories, with limited high-price deals. A trader mentioned that domestic trade inquiries are few, and foreign trade generally remains cautious. In the absence of a clear direction for magnesium prices, the downstream market's cautious and watchful attitude may persist. SMM analysis suggests that, given the current phenomenon of low-price selling, there is insufficient momentum for a continuous increase in magnesium prices. Additionally, the weak demand situation continues, and it is expected that magnesium prices will pull back. SMM will continue to monitor subsequent price changes.
