"The more I can stay back here in Australia and keep to myself and keep behind closed doors and train hard, the more I'll benefit.
"At this stage I don't think I will be (racing overseas).
"We may head overseas and do a little bit of training but the way our squad is at the moment I've got all the competition I need within our own squad."
Magnussen's 100m swim of 47.49 seconds in Shanghai remains well ahead of of his rivals' best post-supersuit times including Brazilian Cesar Cielo (47.84), Canadian Brent Hayden (47.95), France's William Meynard (48.00) and American Nathan Adrian (48.05).
The NSW mid-north coast swimmer will compete at next month's Queensland titles (Dec 10-16) as well as the South Australian (Jan 27-29) and NSW titles (Feb 10-12) as he builds towards Olympic trials in Adelaide in March.
He will join the rest of Australia's top sprinters for a relay camp in Sydney on Friday.
- AAP