Magnesium market trend
On June 15, 2020, the ex factory cash tax price of magnesium ingots (99.9%, non pickling, simple packaging) in the main domestic production areas was basically stable. At present, the mainstream quotation range is 13050-13400 yuan / ton, and the actual single negotiation is the main part.
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According to the follow-up information of the business agency, the ex factory spot exchange including tax in fugu area is 13050-13200 yuan / ton; the spot exchange in Taiyuan area is 13150-13250 yuan / ton; the spot exchange in Wenxi area is 13200-13400 yuan / ton; the spot exchange in Ningxia area is 13050-13200 yuan / ton.
According to the data of the business agency, the average price in the domestic market on the 15th was 13183 yuan / ton, a decrease of 0.25% compared with the average price of 13216.67 yuan / ton at the beginning of June (6.1).
Stable operation for half a month
Since the middle of April, the price of magnesium has fallen to the lowest level in three years, and the willingness of some manufacturers to stop production and repair has increased. On the one hand, the trading in the export market is weak, the price is running at a low level, and the pressure on the operation cost of manufacturers is large; on the other hand, the supply and demand in the domestic market is relatively stable, affected by the cost factors, the manufacturers have a strong willingness to hold the price, and the market game tends to be stable.
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Since June, the market of magnesium ingots has been running steadily, and it has not been able to walk out of the “V” shape running up trend of nonferrous plate since April, which is mainly based on two factors:
1. In recent years, the price trend of magnesium ingot is good and relatively high;
2. The export proportion of magnesium ingots is relatively large, and the external environment has a relatively large impact on the price of magnesium ingots.
Future forecast
The downstream demand is weak. At present, the price of magnesium ingot is low, and the weather is gradually turning hot. It is expected that some factories will be shut down for maintenance in the later stage, and the supply end will have some advantages in magnesium price. However, based on the current weak demand, it is expected that the stable operation will be dominated in the near future, and the later stage will pay attention to the change of downstream market purchase rhythm.
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