Price trend

According to the monitoring of SunSirs, as of the 19th, the average price in the domestic market was 22,333.33 RMB/tonn. The magnesium market was cold, and the price of magnesium ingots weakly declined. In case of rain, orders were scarce, and many factories' quotations were adjusted in a weak way. Some manufacturers said that with the support of raw coal and other cost prices, magnesium prices may fall to the bottom.

Analysis review

Raw materials

The average market price of ferrosilicon in Ningxia was 8,178.57 RMB/tonn, which was rising steadily. The steel bidding of January was launched in advance, the market demand was released, most suppliers supported prices, and the inventory resources were relatively limited. In the short term, the ferrosilicon market was operating steadily.

In terms of coal, the price of semi-coke in Fugu market was stable, the price of lump coal in some coal mines rose slightly, the production and sales of semi-coke were balanced, and the inventory was slowly digested.

Supply side

As the price of magnesium ingots continued to decline, the contradiction between supply and demand in the magnesium market became increasingly prominent. Some magnesium plants were forced to actively reduce production due to the tight capital chain and serious losses. Nitrogen had little impact on the current overall market pattern.

Market outlook

As a whole, the magnesium ingot market was in the downward channel, with unbalanced supply and demand, and a strong bearish sentiment in the market. Although cost support slowed down the decline of magnesium price, the overall situation was difficult to reverse. It is expected that the price of magnesium ingots will continue to decline in the short term.

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