View SMM Magnesium Spot Quotations, Data, and Market Analysis
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Today, the mainstream quotations for 99.9% magnesium ingot in major production areas were 16,600-16,700 yuan/mt, down by 100 yuan/mt compared to the previous working day. Inquiries were sluggish, and the supply and demand stalemate intensified.
SMM analysis suggests that due to previous low-price orders taken by export traders, the acceptance of recent magnesium ingot prices has been low. Additionally, some magnesium ingot smelters have been selling at low prices to alleviate financial pressure, leading to a downward shift in the price center. Considering factors such as the current low inventory, the bottom support for magnesium prices remains strong, and it is expected that magnesium prices will fluctuate rangebound in the short term.
