Magnesium Ingot Prices Slightly Decrease Overseas Tender Season FOB Price Divergence [SMM Spot Magnesium Express]
[smm magnesium ingot spot update: magnesium ingot prices slightly decrease, fob prices diverge during overseas tender season] on august 19, the ex-works quotation for magnesium ingots in fugu area decreased by 50 yuan to 17,200-17,300 yuan/mt, with an average price of 17,250 yuan/mt; fob quotations remained stable at $2,400/mt. currently, magnesium prices are in the doldrums, and the tug-of-war between sellers and buyers continues. downstream demand is below expectations, and producers' resolve to refuse to budge on prices has weakened. the overseas market has entered a high-frequency tender period, and fob quotations have diverged. quotations for orders after october are cautiously high, while spot or short-term delivery orders are transacted within the range of $2,380-2,400/mt.
SMM, on August 19, reported that the ex-works magnesium ingot prices in Fugu region were 17,200-17,300 yuan/mt, with an average of 17,250 yuan/mt, a slight decrease of 50 yuan from the previous trading day; FOB quotes remained at $2,400/mt.
Currently, magnesium prices are in the doldrums, and the market is in a tug-of-war between sellers and buyers. The downstream demand has not met expectations, leading to a weakening reluctance to budge on prices among producers. Notably, this week coincides with a high-frequency tender period for overseas downstream buyers, resulting in a divergent pattern of FOB quotes. Among these, offers for orders after October are generally more cautious and relatively higher; whereas, spot or one-month delivery date deals are concentrated in the range of $2,380-2,400/mt.
