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January 21 2026 09:50:46 SunSirs (John)

Overview of Magnesium Metal Price Trends

According to monitoring data from SunSirs' commodity price analysis system: This month (January 1-16), the magnesium ingot market in Shaanxi province saw an increase. The average market price at the beginning of the month was 15,800 RMB/ton, and by the end of the week, the average market price was 16,650 RMB/ton, representing an increase of 5.38%.

Mid-January has arrived, and magnesium prices have shown an initial upward trend followed by a decline, resulting in an overall volatile and fluctuating pattern. The main reasons for this were related to costs, demand, and inventory levels.

The upward trend in demand was significant:

The magnesium alloy market was showing a continuously upward trend in demand. By December 2025, magnesium alloy production increased by 7,000 tons month-on-month. Leading companies had full order books and were busy scheduling production. This positive trend had strongly boosted the demand for primary magnesium. Meanwhile, the in-depth implementation of lightweighting policies in the automotive industry had become a powerful driving force for the widespread application of magnesium alloys in automobiles and electric two-wheelers, leading to increasingly strong expectations for the release of potential demand for magnesium alloys. However, traders remained cautious in their purchasing, and customers were not highly receptive to high-priced products, resulting in conservative purchasing behavior, with only sporadic purchases to meet immediate needs. Due to reduced enthusiasm from downstream buyers, prices experienced a slight correction in the middle of the month.

Inventory status:

In the initial stages, inventory levels remained consistently low, and at the same time, some magnesium plants chose to suspend production due to operating losses, resulting in a significant reduction in the amount of magnesium available on the market. The inventory structure was also further optimized; for example, large manufacturers in the Fugu and Shenmu regions of Shaanxi Province had relatively concentrated inventories. These factors collectively provided strong support for magnesium prices.

Market sentiment had shifted dramatically:

After a period of rapid price increases, the market sentiment turned increasingly bearish. End-users adopted a cautious wait-and-see approach, and transaction prices were significantly driven down by intermediaries offloading their inventory.

Comprehensive analysis

Magnesium prices are expected to continue their volatile downward trend, with the possibility of further declines. The main reasons for this include the increasing pressure from inventory accumulation before the Spring Festival, the near-stagnation of downstream demand, and the increased selling off of stock by manufacturers to alleviate financial pressure.

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