According to the monitoring of the Commodity Market Analysis System of Shengyi Society, the magnesium ingot market in Shaanxi Province has slightly declined this week (11.24-11.28), with an average market price of 16100 yuan/ton, a decrease of 0.16%.
This week, the magnesium ingot market showed a relatively strong and stable performance in the first half of the week. However, in the middle and later stages of the week, the overall market showed a trend of stability and weakening, with a slight decline. According to market feedback, mainstream factories in Fugu area have adjusted their quotations to 16000 yuan/ton to 16100 yuan/ton including tax this morning. Meanwhile, the market conditions in other regions have also shown weak and stable operating characteristics.
Supply and demand side
On the supply side, at the beginning of this week, the factory set the quotation at 16100 yuan/ton for the sake of stable prices. However, in the middle and later stages of the week, due to the continued sluggish demand and reduced market trading activity, many magnesium companies flexibly adjusted their sales strategies based on the market situation and slightly lowered their quotations to 16000 yuan/ton. Meanwhile, due to cost pressures, there are few lower priced quotes available in the market.
In terms of demand, the overall transaction volume in downstream markets is not well followed up, and the market has a strong wait-and-see atmosphere. At present, there has been no significant improvement in the supply-demand relationship, which puts certain pressure on the operation of the magnesium market; Given that the current magnesium price has fallen near the factory’s breakeven line, it is expected that the difficulty of further price reductions will increase in the future.
Raw material end
The prices of coal, blue charcoal, and ferrosilicon remain stable, and the overall cost remains largely unchanged.
comprehensive analysis
From the current supply-demand situation analysis, there are no significant signs of improvement on the demand side. Against the backdrop of a loose supply-demand relationship, it is difficult for magnesium market prices to rebound; However, given that magnesium prices have already fallen to the low range of the year, with the support of cost factors, the difficulty of further decline in magnesium market prices will increase. The magnesium ingot market is expected to maintain a weak, stable, and consolidating trend.
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