Price trend

According to the data monitoring of SunSirs, as of the 16th, the average domestic market price was 24,733.33 RMB/ton, down 1.98% from the beginning of the week. This week, the domestic magnesium metal market was weak due to the influence of demand, and the overall decline was not large. Most of the transactions were based on rigid demand.

Analysis review

In terms of factories, the quotations of factories at the beginning of the week were firm, and the willingness to stabilize the market was strong. Considering the poor transaction, some factories took the initiative to reduce prices to ship. After the concentrated procurement before the holiday, downstream users reduced their purchases this week, and the export orders performed poorly. The magnesium market had a strong wait-and-see atmosphere.

The raw material semi-coke issued a price increase notice, which would be implemented from the 20th: 2,000 RMB/ton for large materials, 1,900 RMB/ton for medium materials, 1,850 RMB/ton for small materials, and 1,300 RMB/ton for broken semi-coke. The mainstream quotation of ferrosilicon was around 7,600-7,800 RMB/ton. Ningxia manufacturers resumed production, supply began to recover, and the futures market fluctuated. Before the tender of steel mills in October, it is difficult for the spot price to fluctuate greatly.

Market outlook

On the whole, after the concentrated purchase of downstream users before the festival, the overall trading atmosphere of the market was deserted, and the demand could not be followed up, resulting in the weak performance of magnesium ingot prices. In view of the high price of ferrosilicon, the increase of semi-coke price and the high cost of magnesium ingots, the reduction of quotations by magnesium factories is not large. It is expected that the magnesium market will slightly consolidate in the short term.

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