Overview of price trend of metal magnesium

Market analysis of this week

According to the monitoring of the Business News Agency, as of the 20th, the average market price of magnesium ingots in China was 20600 yuan/ton, down 1.28% on a weekly basis. This week, the domestic magnesium ingot market continued to be weak, and the price of magnesium was affected by demand. The quotation was continuously lowered, with a decrease of around 300 yuan/ton.

Factory side

At present, the market sentiment is in a wait-and-see state, with few inquiries and a weak market transaction atmosphere. The manufacturer has a strong bearish sentiment and is positive in allowing prices and shipping, but the actual transaction situation is not ideal. Some manufacturers are unwilling to reduce their prices due to high production costs, and some choose not to quote for the time being.

Raw materials

The average market price of ferrosilicon in Ningxia is around 7500-7600 yuan/ton, with an average market price of 7592 yuan/ton, down 1.12%. The ferrosilicon market is experiencing a situation of oversupply, while domestic and foreign demand is average. Due to an increase in electricity costs of around 0.2 yuan/kWh in the main production areas, the production enthusiasm of factories in some production areas has decreased, some manufacturers have avoided peak production, and some have reduced furnace shutdowns.

The blue charcoal market is operating steadily and weakly. Some blue charcoal enterprises have lowered their prices by 40-100 yuan/ton, while the rest of the market has not been adjusted, and will continue to adjust in the near future.

Aftermarket Forecast

Overall, the inventory pressure of magnesium plants is significant, and the market demand is cold. The manufacturers have no choice but to reduce prices and sell goods. Superimposed by weak shocks in the raw material market and many negative factors, it is expected that the price of magnesium ingots will remain weak in the short term.