Magnesium market trend
On April 3, 2020, the ex factory cash price including tax of magnesium ingots (99.9%, non pickling, simple packaging) in the main domestic production areas was lowered. At present, the main quotation range is 13300-13800 yuan / ton, and the actual single negotiation is the main part.
According to the follow-up of the business agency, the main quotation range of Fugu magnesium ingot (99.9%) is 13300-13500 yuan / ton; Ningxia magnesium ingot (99.9%) is 13400-13550 yuan / ton; Taiyuan magnesium ingot (99.9%) is 13500-13600 yuan / ton; Wenxi magnesium ingot (99.9%) is 13600-13700 yuan / ton.
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According to the data of business agency, the average price of domestic market on March 3 was 13583.33 yuan / ton, a decrease of 6.64% compared with the average price of 14550 yuan / ton at the beginning of March (3.1). In recent years, the price of magnesium ingot has been declining all the way. At present, the price has reached a low level for nearly three years. On the one hand, based on the short-term imbalance between supply and demand, some magnesium enterprises in the main production area are willing to ship at a high price due to their strong demand for payment collection; on the other hand, due to the general decline of bulk commodities in recent years, the downstream willingness to receive goods has declined, and the willingness of traders to store goods has fallen to the freezing point. The purchase is mainly based on rigid demand, with a small number of batches Lord, such as the city is more cautious. The overall purchase volume of the market is not much, and the trading is relatively light.
Expected market outlook
The downstream demand is weak. At present, the price of magnesium ingot is obviously moving down. The current price is low, and the market purchase may recover. If the market continues to reduce the market, it is expected that some factories will be shut down for maintenance in April in advance. It is expected that the recent magnesium market game will be intensified, the stable and weak operation in the near future will be the main factor, 13000 front-line will obtain strong support, and later pay attention to the change of downstream market purchase rhythm.
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