Magnesium market trend
1. Trade name: magnesium ingot (9990)
2. Latest price (October 28, 2019): 14583.33 yuan / ton
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3. Key points of analysis: since the end of August and the beginning of September, the price of magnesium ingot has stepped down, and now the price of magnesium ingot has begun to stabilize. On the one hand, based on the rising willingness of mainstream manufacturers to hold up the price, affected by the heating season, the operating cost of magnesium enterprises has increased, and the profit of early price decline has been seriously compressed, and there is a great resistance to continue to reduce; on the other hand, the supply of low-cost goods in the market has decreased. In addition to the low-cost shipment of some small factories to relieve the short-term capital pressure, mainstream manufacturers have strong expectations on the recovery of downstream demand at the end of the month, and the quotation is firm.
4. Future market forecast: near the end of the month, the domestic spot market just needs to purchase or will increase. Although the overall market is weak, it is expected that the price of magnesium ingot will keep stable operation in the near future, and pay attention to the actual transaction situation in the market in the later stage.
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