SunSirs: On April 12, the Magnesium Ingot Fell to the 40,000 Mark
April 13 2022 08:57:25 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the ex-factory price of magnesium ingots in mainstream areas on the 12th was 40,000 RMB/ton, including tax, and the mainstream price of magnesium ingots dropped below 40,000 RMB/ton.
Analysis review
The price of magnesium ingot in Fugu area was 37,900-38,000 RMB/ton including tax, the price of magnesium ingot in Wenxi area was 38,100-38,200 RMB/ton including tax, the price of magnesium ingot in Taiyuan area was 38,000-38,100 RMB/ton including tax, and the price of magnesium ingot in Ningxia area was 37,900-38,000 RMB/ton including tax. There were also factories that could negotiate prices for real orders.
The competition between supply and demand lasted for nearly a month. The price of magnesium ingots fell below the 40,000 yuan mark under pressure. The insufficient performance of downstream demand also led to the accumulation of inventory in magnesium factories. The pressure on merchants' inventory began to appear, and some merchants sold at profit-cutting.
The raw material market is rising, and the cost support is also increasing. However, the current financial pressure of magnesium plants is still relatively small, but the impact of the epidemic on the demand for magnesium market still exists.
Market outlook
The price of magnesium may fluctuate weakly in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 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)
