hi i have a singer steam magic press and my steam was really powerful and then went to no steam and the plunger seamed loose or not doing what it should.so i took the cover off to investigate and if you lollow the arm of the plunger mine goes to a rod that is tight in a tube which creates the steam once pressed.the problem with mine is due to the rod rubber washer getting stuck in the container of water.i think it has to be greased so that the rod goes back and forth as it should as the spring that pulls it back is connected and pulling.tried wd 40 but didnt work so now am going to get some proper grease to put in the tube to lube the tunnel bit and got a feeling it will work.
not sure if the setup on yours is similar but it may be worth a check.maybe your washer has come off or something.
i hope you can make sense of my suggestions obviously i dont know correct technical words for each piece hence my tube and rod desciption
hope this helps in some way
Dean
April 2007