》Check SMM magnesium spot quotations, data, and market analysis
SMM reported on May 26 that domestic magnesium prices stopped falling and remained stable today. The mainstream quotations for spot 99.90% magnesium ingot in the Fugu region ranged from 16,900 to 17,100 yuan/mt, with transaction prices hovering around 16,900 yuan/mt, basically flat compared to yesterday.
Today, the magnesium ingot market is in the doldrums. Affected by the continuous weakness in market demand, coupled with increased financial pressure on magnesium producers at month-end, magnesium producers' reluctance to budge on prices has weakened somewhat. Magnesium producers have chosen to sell at market prices, leading to an increase in low-priced supplies. The center of magnesium prices has shifted downward again. Considering that the environmental protection inspection team arrived in Shaanxi on May 26 for a one-month inspection, their presence will, to a certain extent, delay the production resumption plans of magnesium producers in June. Moreover, the low inventory level will support magnesium prices. It is expected that the downside room for magnesium prices will be relatively limited in the future.
