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SunSirs: Magnesium Prices Fell to the Lowest Level in 3 years, the Market is Expected to Maintain Stable

April 07 2020 08:10:50     SunSirs (Linda)

Magnesium market trends

On April 3, 2020, the price of ex-factory cash inclusive of magnesium ingots (99.9%, no pickling, simple packaging) in all major domestic production areas was lowered. At present, the mainstream quotation range is 13,300-13,800 yuan / ton, and the actual single order is mainly discussed.

According to SunSirs, the mainstream quotation range of magnesium ingots (99.9%) in Fugu area is 13,300-13,500 yuan / ton; the mainstream quotation range of magnesium ingots (99.9%) in Ningxia region is 13,400-1,3550 yuan / ton; The mainstream quotation range of magnesium ingots (99.9%) in Taiyuan area is 13,500-13,600 yuan / ton; the magnesium quotation in Wenxi area (99.9%) is 13,600-13,700 yuan / ton.

According to SunSirs data, the average domestic market price on the 3rd was 13,583.33 yuan / ton, which was 14,550 yuan / ton compared with the average market price in early March (3.1), a decrease of 6.64%. Recently, the price of magnesium ingots has been declining all the time. At present, the price has reached a low level of nearly three years. On the one hand, based on the short-term imbalance of supply and demand, some magnesium enterprises in the main production areas have strong willingness to ship, and there is a large demand for refunds. On the one hand, the recent general commodity decline, the downstream willingness to receive goods have declined, and the willingness of traders to hoard goods has dropped to freezing point. Procurement is mainly based on rigid demand and small batches. If the market is more cautious. The overall purchase volume in the market is not large, and trading is relatively light.

Estimated market outlook

Downstream demand is weak. At present, the price of magnesium ingots is declining obviously. The current price is low. Purchases in the market may pick up. If the market continues to decline, some factories may be shut down for maintenance in advance in April. It is expected that the recent magnesium market game will intensify, and the recent stable Weak operation is the mainstay, and the 13,000 frontline will get strong support. Later, we will pay attention to the changes in the purchase rhythm of the downstream market.

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