Price trend

According to the monitoring of SunSirs, as of the 18th, the average price of magnesium ingots in the domestic market was 24,000 RMB/ton, down 1.64% on a weekly basis. The price of magnesium ingots fell weakly this week, with a cumulative decline of 300-500 RMB/ton. The psychology of buying up rather than buying down was obvious, and the demand remained sluggish.

Analysis review

Raw materials

The average market price of ferrosilicon in Ningxia was 8,142.86 RMB/ton. On Friday, futures prices rose significantly and spot prices eased. The price of semi-coke had also fallen back. There was a market rumor that the capacity replacement in Inner Mongolia would remain in a natural transition state, no longer requiring time, and most of the coke enterprises would stay on the sidelines.

Downstream

The price of magnesium powder and magnesium alloy in the downstream followed the weak and steady progress of magnesium ingot, and the overall demand was average, only supported by rigid demand. Under the influence of the energy crisis and exchange rate, the actual performance of foreign orders was flat.

Market outlook

Affected by the poor demand, the market depressed the factory quotation, and most of the industry people were cautious, and they were not optimistic about the future market. However, considering the high price of ferrosilicon and raw coal, the price of magnesium ingot was basically near the cost line at present, and the decline of magnesium ingot was limited. It is expected that the price of magnesium ingot will be weak and stable in the short term.

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