Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the magnesium ingot market in Shaanxi Province fell this week (12.16-12.20), with an average market price of 16,333 RMB/ton at the beginning of the week and 16,333 RMB/ton at the end of the week, with prices remaining stable.

Analysis review

The transaction performance of the magnesium market slowed down this week, mainly due to the impact of concentrated downstream procurement last week. At the same time, as Christmas approaching, foreign customers were gradually entering a vacation state, and the number of overseas inquiries had significantly decreased. In the domestic market, procurement was mainly based on essential needs, and overall demand was relatively stable.

Supply and demand side

This week, magnesium prices remained relatively stable, mainly due to the support of factory costs and the stabilization of the ferrosilicon market. Meanwhile, the support of the storage policy also made it difficult for magnesium prices to further decline. However, due to the overall accounting losses of factories, the market generally expects limited downward space for magnesium prices.

Due to the combined effects of loose supply and demand, factory cost support, and storage policies, it is expected that the magnesium market will be mainly stable next week. However, the market still needs to pay attention to demand follow-up in order to determine future market trends.

Market outlook

This week, the transaction volume in the magnesium market had slowed down, mainly due to the impact of downstream centralized procurement and reduced demand in foreign markets in the early stage. It is expected that the market will remain stable next week, but attention still needs to be paid to the follow-up of demand.

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