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SunSirs: Magnesium Ingot is Expected to Stabilize during the Spring Festival

January 17 2020 16:11:51     SunSirs (Linda)

The Spring Festival is coming, magnesium ingot is expected to be stable. According to the data of the SunSirs, the average market price of domestic magnesium ingot on January 17, 2020 is 14,083.33RMB/ton, and the recent price is relatively stable.

On January 17, 2020, the ex factory cash price including tax of magnesium ingots (99.9%, non pickling, simple packaging) in the main domestic production areas remained stable. The specific price range is as follows:

The ex factory cash exchange including tax in fugu area is 13,850-14,100RMB/ton; the cash exchange in Taiyuan area is 14,000-14,100RMB/ton; the cash exchange in Wenxi area is 14,050-14,200RMB/ton; the cash exchange in Ningxia area is 13,900-14,000RMB/ton.

The Spring Festival is coming, and the trading is being weak

Close to the Spring Festival, the trading tends to be weak, and the magnesium ingot market runs smoothly. It is reported that the magnesium ingot manufacturers' pre-sale situation has occurred from time to time in the near future. The manufacturers' low price pre-sale, after all, there is a rapid return of capital demand at the end of the year. At present, the downstream alloy manufacturers and magnesium powder manufacturers have completed their stock in succession years ago. The downstream raw material inventory has accumulated to a certain extent, and there are not many magnesium ingot manufacturers in stock, so there is a balance between supply and demand.

Data review in 2019

Production end:

According to the preliminary statistical data of China Nonferrous Metals Industry Association, 763,900 tons of original magnesium were produced by the Communist Party of China from January to November 2019, an increase of 11.16% year on year. Among them, the cumulative production in Shaanxi is 465,900 tons, up 19.01% year on year; the cumulative production in Shanxi is 108,500 tons, up 13.41% year on year; the cumulative production in Ningxia is 51,500 tons, down 18.51% year on year.

According to relevant statistical data, it is estimated that the domestic original magnesium output in 2019 will be about 927,700 tons.

Consumer end:

According to relevant statistics, the domestic consumption is 472,300 tons. In terms of import and export, it is estimated that 446,500 tons of various magnesium products will be exported. According to the statistics of the General Administration of customs, from January to November 2019, China exported 409,300 tons of various magnesium products, a year-on-year increase of 9.29% and a cumulative amount of US $1.048 billion, a year-on-year increase of 12.08%. Among them, the total export of magnesium ingot is 217,900 tons, up 14.54% year on year; the total export of magnesium alloy is 100,900 tons, down 0.61% year on year; the total export of magnesium powder is 77,900 tons, up 6.88% year on year.

Forecast for future market

It is expected that the price of magnesium ingots will maintain stable operation in the near future, and the actual transaction situation in the market will be focused in the later stage.

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