1. Product name: magnesium ingot (9990)

2. Latest price (Oct 28, 2019): 14,583.33RMB/t

3. Key points of analysis: Since the end of August and the beginning of September, the prices of magnesium ingots have stepped down, and now the prices have begun to stabilize. On the one hand, it based on the rising willingness of mainstream manufacturers to hold up the prices. Affected by the heating season, the operating cost of magnesium enterprises has increased, and due to the price decline, the profit has been seriously compressed, and there is a great resistance to continue to reduce the prices. On the other hand, the supply of low-cost goods in the market has decreased. In addition to the low-cost selling of some small factories to relieve the short-term capital pressure, mainstream manufacturers have strong expectations on the recovery of downstream demand at the end of the month, and the quotation is quite firm.

4. Future market forecast: Near the end of the month, the rigid demand in domestic spot market will probably increase. Although the overall market is weak, it is expected that the prices of magnesium ingots will keep stable in the near future, and the actual transaction situation should be focused in the later stage.

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