According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province fell this week (12.22-12.26), with an average market price of 16300 yuan/ton at the beginning of the week and 16266 yuan/ton at the end of the week, a decrease of 0.20%.
| Gamma-PGA (gamma polyglutamic acid) |
This week’s market analysis
This week, the magnesium market has slightly lowered its prices, with the lowest price remaining stable at 16000 yuan/ton. Due to the upcoming Christmas and New Year holidays, there is less demand from abroad, and domestic procurement remains essential. The overall magnesium market is relatively flat, with mostly wait-and-see measures.
Supply and demand side
This week, magnesium prices are still under pressure due to the approaching of two major holidays abroad, reduced demand, and the unchanged pattern of more supply and less demand. However, the overall cost of the upstream magnesium plant is already in a state of loss, and there is a strong willingness to raise prices due to cost support.
The delivery of 75 silicon iron at the raw material end remains stable. The spot market is temporarily stable, and futures have bottomed out and rebounded, but the demand side support is limited, and the overall supply and demand pattern has not changed. The factory’s willingness to lower prices is not high, and it is expected that the short-term silicon iron market will operate weakly and steadily.
comprehensive analysis
The magnesium market is still under upward pressure, but the downward space continues to compress, and in the short term, the upstream and downstream of the market are in a dilemma of rising and falling. Maintain a slight fluctuation and run steadily. Magnesium prices fluctuate narrowly within the range.
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