SunSirs: China's Magnesium Ingot Price Jumps 500-800 yuan/ton in 2 Working Days

Magnesium market

On April 20, 2021, domestic magnesium ingots (99.9%, no pickling, simple packaging) ex-factory cash tax-included prices are quoted in the range of 16,200-16,600 yuan/ton in major domestic production areas. Negotiations are mainly based on actual orders.

Specific price range in each region

Fugu area ex-factory tax-included cash exchange is 16,200-16500 yuan/ton; Taiyuan area cash exchange is 16,400-16500 yuan/ton; Wenxi area cash exchange is 16,400-16600 yuan/ton; Ningxia area cash exchange is 16,300-16400 yuan/ton.

Magnesium ingots are national standard (GB/T3499-2011) primary magnesium ingots; non-pickling, no wooden pallets, and non-payment of acceptance price, the actual order negotiation is the main thing.

On the 20th, the average market price in the main producing areas increased significantly from last weekend's quotation, ranging from 500-800 yuan/ton.

It is reported that magnesium ingot prices rebounded strongly this week, mainly due to two factors.

On the supply and demand side, the current market demand is relatively improved, the number of enquiries has increased, and the main production area manufacturers have not many inventories. Affected by the price of raw materials, the initial operating rate is not high and the production is relatively insufficient. Last week, the price of aluminum rose sharply and exceeded the level of 10,000, and the price-performance ratio of magnesium used in the downstream rose.

In terms of import and export, according to news from exporters, export orders have begun to pick up, and the number of orders has increased. Production abroad has gradually recovered, and the demand for magnesium ingots has rebounded.

Overall, the current domestic shipments are in good condition, with some pre-sale transactions. SunSirs analysts believe that due to the relatively high coal price, high cost pressure, coupled with the fact that the company currently has a small inventory, pre-sale transactions account for a large proportion, and manufacturers are relatively willing to price, it is expected that the recent strong operation of magnesium ingot prices will be the mainstay.

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