Magnesium market trend
On July 14, 2020, the price of magnesium ingot (99.9%, no pickling, simple packaging) in the main production areas of China dropped slightly, and the recent turnover of magnesium market was weak, and the willingness of manufacturers to support the price moved down. At present, the mainstream quotation range is 12800-13100 yuan / ton, and the actual order is mainly discussed
According to the data of the business agency, the average price of the domestic market on the 14th was 13066.67 yuan / ton, a decrease of 2.73% compared with the average price of 13433.33 yuan / ton at the beginning of July (7.1), and 14166.67 yuan / ton at the beginning of July (1.1), a decrease of 7.76%.
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The specific price ranges of each region are as follows:
The ex factory spot exchange including tax in fugu district is 12800-13000 yuan / ton; that in Taiyuan area is 12950-13100 yuan / ton; in Wenxi area, it is 13050-13200 yuan / ton; in Ningxia area, it is 12850-13000 yuan / ton.
Poor demand and low price
At the end of June, some enterprises in mainstream production areas were affected by cost factors, and had a strong willingness to raise prices. Since July, the market price of magnesium ingots has been continuously falling, falling below the 13000 mark.
In terms of supply and demand, affected by the poor export factors, the current spot supply is relatively sufficient, and the downstream procurement is relatively rational. Under the expectation of the weak market, more on-demand procurement is given priority to, and the willingness to store goods is low.
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The future market is still weak and stable
In terms of exports, overseas demand is not expected to change significantly in the near future. It is reported that in May, China exported 16128.22 tons of unwrought magnesium (mg ≥ 99.8%) with a total amount of US $35.3555 million; compared with April, the export volume decreased by 26.33%, and the export value decreased by 28.4%.
It is expected that the future magnesium price will remain weak and stable, and the later stage will focus on the impact of manufacturers’ shutdown and maintenance on the operating rate in summer.
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