[Mg Market Trading Sluggish; Short-term Doldrums Persist Amid Supply-demand Stalemate]Today, 99.90% magnesium ingot prices in main production areas were quoted at 16,300-16,400 yuan/mt, a decline of 50 yuan/mt from the previous working day.

[SMM Chrome Daily Review: Market Expectations Pessimistic, Transactions Continue Weak] June 16, 2026 – Ferrochrome and chrome ore markets fluctuate slightly...

SMM June 16 news: [SMM] June 16 SMM A00 aluminum (Foshan) reported at 23,790, down 350, discount to the current month 90, flat (unit: yuan/mt) Today, the futures market suddenly plummeted, while South China spot aluminum struggled to remain firm. Absolute prices plunged sharply, forming a hedge against the steady destocking of inventory, and holders attempted to ride the momentum and raise prices in the morning; but with the spot-futures price spread expected to stay high, there remained room for hedging-based shipments, supply actually loosened somewhat, making it difficult to push prices higher, with mainstream quotations concentrated at a premium of 0 to +10 yuan/mt. Demand side, downstream players were initially somewhat cautious, after failing to push for lower prices, gradually shifted to buying the dip, providing some support; traders were also willing to take non-premium cargoes, and overall, transactions were satisfactory. Spot transaction prices were concentrated at a premium of -110 to -70 yuan/mt over the SHFE aluminum 2607 contract.

The average warrant price on June 16 remained unchanged from the previous trading day, reported at $59/mt (price range $54-64/mt); the average B/L price remained unchanged, reported at $61/mt (price range $55-67/mt); the average price for EQ copper (CIF B/L) rose $4/mt from the previous trading day, reported at $33/mt (price range $30-36/mt), with quotations referencing cargoes arriving in mid- to late June and early July. During the day, there were abundant offers for EQ, and transactions also recovered from the previous day. After the SHFE/LME price ratio firmed, although buyer demand remained concentrated on registered B/Ls for late-June arrival, demand for EQ also improved. It was heard that EQ B/Ls for early-July arrival were traded around $30/mt, and a small number of actual EQ B/Ls for late-June arrival changed hands above $35/mt. It was heard that a few registered B/Ls for late-June arrival were offered at $70-75/mt.

Platinum prices were in the doldrums intraday, with market concerns primarily arising from the uncertainties before the formal signing of the U.S.-Iran agreement on the 19th and the ambiguity from the Israeli side, and platinum futures gave up some of yesterday's gains. In the morning session, the most-traded GFEX platinum contract PT2608 closed at 435.6 yuan/g, down 1.44%, and the inverted spread between the sell-one price of SGE platinum 9995 and GFEX PT2608 widened to 3-6 yuan/g. Spot side, mainstream platinum quotations were at a discount of 3 yuan/g to parity against the PT2608 contract, with the discount basically flat from the previous trading day, but transactions clearly favored the low end of quotations. According to SMM, with the recent rebound in platinum prices, the offer spread in the platinum spot market was wide, making it very difficult to transact at the high end of mainstream quotations. Downstream enterprises had ample stockpiles and subdued procurement sentiment, with overall transactions being lackluster.

During yesterday's night session and today's morning session, SHFE aluminum futures prices plunged. In the Central China market, downstream processing enterprises' buying sentiment recovered somewhat, and their stockpiling willingness increased. Trading firms engaging in both spot and futures markets were inclined to quickly capture price spreads, with significant sentiment of holding prices firm and holding back from selling, driving market quotations to stay high. Ultimately, the actual transaction price range in the Central China market was around a discount of 120-140 yuan/mt against the SHFE aluminum July contract.