Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the magnesium ingot market in Shaanxi Province rose slightly this week (1.13-1.17), with an average market price of 16,250 RMB/ton at the beginning of the week and 16,266 RMB/ton at the end of the week, an increase of 0.10%.

Analysis review

In the early stage of the magnesium market this week, the overall performance was relatively stable, and trading activity was relatively quiet. However, as entered the middle and later stages of the week, with some downstream customers and intermediate buyers increasing their scale of stocking up in the market, the market activity began to show a significant increase, and the overall trading atmosphere gradually heated up.

Supply and demand side

From the perspective of market supply and demand, in-depth analysis showed that the factory quotations on the supply side remained relatively stable and firm. The market price has shown a slight increase compared to before, with an increase of 50 to 100 RMB/ton, which has boosted market confidence to some extent. On the demand side, downstream customers and traders may choose to adopt a wait-and-see attitude to observe market trends or prepare goods in an orderly manner according to their own business strategies and actual needs.

As the Spring Festival approaching, the operational strategies of all parties in the market were becoming more stable and conservative, and it is expected that the market situation will not experience significant fluctuations in the short term.

Market outlook

In summary, the magnesium ingot market prices were showing a slight upward trend, but overall, the market's upside and downside space was still relatively limited. It is expected that the magnesium ingot market will maintain a slight adjustment trend within the range.

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