SunSirs: Wednesday Magnesium Market: Weak and Stable Consolidation

By Wednesday, the domestic magnesium ingot market continued its weak and stable trend. Market sources indicate that in Fugu, mainstream factories maintained quotes of RMB 16,500/ton (tax-inclusive, cash payment) today. Some factories offered RMB 16,400/ton (tax-inclusive, cash payment) for actual transactions. Other regional markets remained stable.

Midway through the week, overall market conditions showed little change. From a supply-demand perspective, producers maintained price stability intentions, with major production areas quoting around RMB 16,500/ton (tax-inclusive, cash payment). Actual transaction prices reached RMB 16,400/ton (tax-inclusive, cash payment), with scarce supply below this level. Some factories quoted futures prices at RMB 16,200/ton (tax-inclusive, cash payment). On the demand side, downstream buyers maintained a cautious wait-and-see attitude, with overall low enthusiasm for inquiries and orders. Market acceptance of higher prices remains limited. Both supply and demand sides have reached a stalemate at current price levels, leaving magnesium prices stuck in a range-bound pattern.

In summary, the short-term supply-demand dynamics for magnesium ingots remain relatively balanced, making significant price fluctuations unlikely. The market is expected to maintain its current weak-to-stable consolidation pattern in the near term, with prices likely fluctuating within a narrow range of 16,400–16,500 RMB/ton (tax-inclusive, cash payment).

As an integrated internet platform providing benchmark prices, on February 6th, SunSirs' benchmark price for magnesium was 16500.00 RMB/ton, a decrease of 1.49% compared to the beginning of the month (16750.00 RMB/ton)

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.