Fugu Magnesium Ingot Prices Adjusted Downward Under Pressure, Domestic and Foreign Trade Markets Show "Hot Domestic, Cold Foreign" Pattern [SMM Spot Magnesium Ingot Express]
[SMM Spot Magnesium Ingot Market Update: Fugu Magnesium Ingot Prices Adjusted Downward Under Pressure, Domestic and Foreign Trade Markets Show "Hot Domestic, Cold Foreign" Pattern] On September 12, the ex-factory offer for magnesium ingots in the Fugu region was lowered by 100 yuan/mt to 16,600-16,700 yuan/mt, with the FOB offer at $2,370/mt. Market trading was active, with some magnesium plants selling at low prices of 16,500 yuan/mt, attracting active purchases from traders. The single-day trading volume reached 1,600 mt. The foreign trade market showed a stalemate, with 80% of traders refusing new orders and insisting on high prices including taxes. However, a small number of shipping orders were still concluded at low prices today, highlighting the ongoing tug-of-war between sellers and buyers.
SMM September 12 News, Today's Fugu Region Magnesium Ingot Ex-Factory Offers Ranged from 16,600 to 16,700 Yuan/mt, Down 100 Yuan from the Previous Trading Day; FOB Offers Were at $2,370/mt.
Market Trading Activity Was Lively, with Prices Continuing on a Downward Trend. Some Magnesium Producers' Actual Selling Prices Have Dropped to 16,500 Yuan/mt, Attracting Active Purchasing by Traders, with Today's Cumulative Trading Volume Reaching 1,600 Mt. In Foreign Trade, Offers Remain Stagnant, with About 80% of Traders Unwilling to Take on New Overseas Orders, Even as Ex-Factory Prices Decline, They Still Tend to Quote Higher Tax-Inclusive Prices Abroad. However, Some Orders with a Shipping Date of the 23rd Were Concluded at Lower Prices Today, Indicating That the Current Market Sellers and Buyers Are Still in a State of Negotiation and Standoff.
