SunSirs: Resumption of Work in Magnesium Accelerates the Sharp Rise of Market Quotation

On February 17, 2020, the factory cash price of magnesium ingots (99.9%, non pickling, simple packaging) in the main production areas in China was different, and the main production areas began to return to work gradually. At present, the operating rate is not high, the initial inventory is not high, some manufacturers raise their prices, and they are willing to hold prices. Some manufacturers wait and see the trend of the business. At present, the main quotation range is 15,000-15,500 RMB/ton, and the actual single negotiation is the main one.

According to the follow-up information of SunSirs, Fugu Xintian Magnesium Alloy Co., Ltd. has completed the resumption of work, with an external quotation of 15,200 RMB/ton (including tax in cash); Fugu Yabolan carbon magnesium Electricity Co., Ltd. currently has a low starting rate of magnesium products, with a production reduction of about 50%; an external quotation of 15,500 RMB/ton (including tax in cash); Shaanxi dongxinyuan chemical magnesium is still in the state of production suspension; some traders have opened At the beginning of normal operation, the quotation of standard magnesium ingot (99.90) of Shanxi magnesium Da Trading Co., Ltd. was 15,300 RMB/ton (including tax in cash). Due to traffic problems, some traders, such as Shanxi Jiuling metal material Co., Ltd., suspended the quotation of standard magnesium ingot (99.90) and chose to enter the market later.

At present, the traffic has not been completely restored, some producers consider the difficulty of raw materials and products shipment and the safety management factors of employees, and the operating rate is generally not high.

Magnesium market trend

Expected market outlook

Magnesium ingot manufacturers do not have a lot of raw materials in the early stage, a low operating rate, a small amount of product inventory, and a strong willingness to hold prices in the short term. It is expected that the prices of magnesium ingots will be strong in the near future, and pay attention to the changes in the upstream and downstream starting pace in the later stage.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.