According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province fell this week (8.19-8.23), with an average market price of 17933 yuan/ton at the beginning of the week and 17900 yuan/ton at the end of the week, a decrease of 0.19%.
| Gamma-PGA (gamma polyglutamic acid) |
This week’s market analysis
This week, due to the continued weak downstream demand, magnesium prices are under pressure and have slightly declined. The main production areas have slowed down the pace of market transactions. The manufacturer’s quotation has slightly decreased to cope with the off-season.
Supply and demand side
At present, the market situation is that the price of magnesium ingots is low, and factories are trying their best to stabilize the price. At the same time, there was news support from the purchasing side over the weekend, which strengthened the willingness of factories to raise prices. Strong bottoming out with a stabilizing trend.
comprehensive analysis
In the short term, the magnesium market is affected by procurement news, but the supply-demand imbalance in the market has not improved yet. Most of the demand side customers have a wait-and-see attitude and are placing orders cautiously this week. The market is expected to remain stable.
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