SunSirs: Prices of Magnesium Ingots Stepped down and Began to Run Steadily

SunSirs: Sep 27

In Sep, prices of Magnesium Ingots stepped down. On Sep 27, the average market price of Magnesium Ingot (9990) is 15,066.67RMB/t, 3.62% lower than the price of Sep 1 (15,633.33RMB/t). And now the price is an all-time low this year.

Since the late March, the prices of Magnesium Ingots has been on the downward trend as a whole. The trend is partly based on the increase of domestic production, according to relevant data, 479.7 million tons of magnesium were produced by China from January to July, an increase of 9.65% over the same period of last year. Among them, the cumulative production in Shaanxi is 288,000 tons, an increase of 14.96% year on year; the cumulative production in Shanxi is 71,300 tons, an increase of 32.55% year on year; and the cumulative production in Ningxia is 26,000 tons, a decrease of 45.31% year on year. The onther reason is that, because of the low prices of Magnesium Alloy caused by Aluminum Ingot, the competitive substitution advantage of low-end products is small.

As a major producer of Magnesium products, the current export situation is running well. According to statistics from the General Administration of Customs, China exported 268,500 tons of Magnesium products in January-July (an increase of 17.85% year-on-year), with a cumulative amount of $698 million (an increase of 24.35% year-on-year). Among them, 147,700 tons of Magnesium Ingots were exported, an increase of 27.41% year-on-year; 63,900 tons of Magnesium Alloys were exported, an increase of 0.41% year-on-year; and 52,500 tons of Magnesium Powder were exported, an increase of 17.33% year-on-year.

At present, the National Day holiday is approaching. The goods are bought out of just need, the overall market is weak. The main ex-factory price is 14,800-15,000RMB/t, low-cost supply is less than the previous few days. Currently, the operation is mainly stable.

The National Day holiday is approaching, it is expected that the price of Magnesium Ingots will run smoothly in the near future. Later, we will pay attention to the actual market transactions and the maintenance of Magnesium plants.

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