SunSirs: China's Magnesium Market is Strong on December 6th, Rising to 40,000
December 07 2021 08:21:36 SunSirs (Linda)
Market analysis
On the 6th, the ex-factory price of 99.9% of the mainstream areas was 39333.33 yuan/ton with tax, which was 4.42% higher than the price on the 5th. The prices of factories in the main producing areas of Shaanxi were raised by 1500 yuan/ton with tax.
Supply and demand: On the one hand, the current magnesium ingot spot inventory is seriously insufficient; on the other hand, the downstream purchases have been gradually increasing in the near future, which is the main factor leading to the rapid rise of magnesium prices.
Policy: The Central Ecological and Environmental Protection Inspection Team carried out inspections in Shaanxi in December. With the further strengthening of environmental protection in December, the magnesium price market was promoted to a moderate upward trend. Although some people in the magnesium factory said that environmental inspections have an impact on the production capacity of magnesium ingots. Not yet known, but the market is currently full of optimism.
Outlook forecast
In view of the current shortage of magnesium ingots and the impact of environmental uncertainties, it is expected that magnesium ingots will tend to be strong in the short term.
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- 2024-01-04 SunSirs: Supply Exceeded Demand, and Magnesium Prices Continued to Be Weak (December 25-31)
- 2023-12-27 SunSirs: There Was No Significant Change in the Magnesium Market, Maintaining a Weak and Stable Trend (December 18-25)
- 2023-11-21 SunSirs: Affected by the News of Resuming Work One after Another, the Magnesium Market Was Operating to Be Weaker (November 13-17)
- 2023-11-14 SunSirs: Insufficient Demand Support, Magnesium Prices Fluctuated Narrowly (November 6-13)
- 2023-10-18 SunSirs: Manufacturers' Willingness to Give Up Profits Increased, and Magnesium Prices Slightly Decreased (October 9-16)
