SunSirs: On December 21st, Price of Magnesium Ingots in the Chinese Market Fell under Cold Pressure
December 22 2021 08:33:37 SunSirs (Linda)
Market analysis
On the 21st, the ex-factory price of 99.9% of mainstream areas was 42,000 yuan/ton with tax, down 0.79% from last weekend's price. Shaanxi's main production area factories' quotations were lowered by 1,500 yuan/ton with tax.
On December 20, the market was mainly on the sidelines. Compared with yesterday, the price of magnesium dropped by 1,500 yuan/ton. Last week, foreign customers replenished goods before the holiday. This week, due to the holiday, orders were also reduced; domestic spot is still small, and futures orders are still the main thing. , Downstream purchases have become more cautious, the willingness to accept high-priced magnesium ingots is not high, and the price support of superimposed raw materials is insufficient, and the market price of magnesium metal has fallen under cold pressure.
Outlook forecast
Both supply and demand are still in a stalemate game, and coal prices are falling rationally 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)
