The magnesium ingot market in China witnessed further price declines today, with mainstream quotations from smelters in the Fugu and Shenmu regions of Shaanxi standing at 15,200 yuan/mt. Transaction prices for 99.9% purity magnesium ingots ranged between 15,100 and 15,200 yuan/mt, reflecting a continued downward fluctuation.

Market sentiment remains uncertain as the drop in magnesium prices shows no sign of stabilizing. Industry insiders are increasingly concerned about when the decline will bottom out. Following the completion of downstream restocking in previous periods and a notable reduction in raw material costs—particularly for coal and ferrosilicon—many buyers without immediate procurement needs have taken a wait-and-see approach. This has led to a slowdown in inquiries and overall market transactions.

Furthermore, the absence of strong cost support has weakened the bargaining power of magnesium producers, making it difficult for them to counter declining prices. As a result, the downward pressure on magnesium ingot prices continues to mount, adding to the challenges faced by the industry.