Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the magnesium ingot market in Shaanxi Province fell by 0.79% on October 25th.

Analysis review

After a period of stable support for up to half a month, magnesium prices had experienced two consecutive corrections this week. It was still under downward pressure near the cost line. On October 25th, mainstream manufacturers in Shaanxi region quoted 17,500-17,600 RMB/ton; The mainstream manufacturers in Shanxi region ranged from 17,700-17,800 RMB/ton.

On the supply side, factories had a strong willingness to raise prices under high cost pressures, but the large inventory led to a decrease in quotes. On the cost side, the prices of ferrosilicon and coal had rebounded, weakening support for magnesium prices.

Market outlook

The factory's losses continued to intensify, downstream demand had not increased significantly, prices were at a low level, and there is limited room for further decline.

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