Fugu Magnesium Ingot Offers Rise, Trading Remains Sluggish Awaiting Volume Increase [SMM Spot Magnesium Ingot Express]
[SMM Magnesium Ingot Spot Report: Fugu Magnesium Ingot Offers Increased, Trading Remains Thin Awaiting Volume] Today, magnesium ingot ex-factory offers in the Fugu area increased slightly by 50 yuan/mt to 16,100-16,200 yuan/mt, while mainstream transaction prices in the market remained stable at 16,100-16,150 yuan/mt, though overall trading volume was limited. Supported by the recent stabilization of ex-factory prices and an increase in overseas inquiries, traders showed stronger pricing sentiment, with the FOB transaction range moving up to $2,270-2,350/mt, reflecting a pattern of strength overseas and stability domestically. The market is currently caught between cost support and insufficient demand follow-up in the short term, and a wait-and-see sentiment persists.
Today, ex-factory offers for magnesium ingots in the Fugu area were 16,100-16,200 yuan/mt, a slight increase of 50 yuan/mt from the previous trading day; the FOB reference offer was $2,305/mt. Although mainstream transaction prices remained in the range of 16,100-16,150 yuan/mt, overall market transactions were sluggish.
Affected by the stabilization and strengthening of ex-factory prices since last weekend, traders generally raised their offers slightly. Meanwhile, recent overseas inquiries increased, pushing the US dollar transaction price up to a relatively high level of $2,270-2,350/mt.
