This week, the domestic magnesium ingot market continued to operate in a weak and stable consolidation trend. There was not much fluctuation in market prices during the week. As of Friday, it was learned that mainstream factories in the Fugu area quoted prices of 20050-20150 yuan/ton including tax in spot exchange. There have been no significant changes in other regional markets.
Looking back at this week, due to factors such as fatigue in downstream demand and rising transportation costs due to the red sea situation abroad, as well as delayed booking of foreign orders, magnesium ingot prices have slightly loosened and rebounded since the beginning of the week. With the further weakening of market quotations, some downstream demand customers have started to choose low-priced restocking opportunities. In recent days, the activity of market inquiries and procurement has increased, and the market transaction volume has increased. The transaction price is basically in the range of 20000-20100 yuan/ton including tax in spot exchange.
From the current market perspective, both supply and demand sides are exploring each other, and market prices fluctuate within a narrow range. At present, the overall inventory level of the factory is abundant, and the enthusiasm for shipment is strong. Some factories choose to operate flexibly and ship at low prices. Some factories are still delivering early orders, and the quotation is relatively stable. It can be seen that the factory has a strong willingness to adhere to the 20000 mark; On the demand side, although downstream customers have been restocking recently, the overall market demand is still not improving. The supply and demand pattern may be difficult to improve, and the market has a strong bearish sentiment.
In summary, there has been no significant change in market demand and supply in the short term, and the mentality of both buyers and sellers is slightly game oriented. In the current magnesium market, downstream procurement is more inclined to replenish at low prices and is more cautious about future price trends. As the price approaches the 20000 mark, coupled with the cost of raw materials, the factory also has a willingness to stabilize prices. It is expected that the magnesium market will continue to maintain weak and stable consolidation in the near future, with a narrow range of consolidation within the price range. Pay attention to subsequent changes in supply and demand and other related market dynamics.
