As of this Friday, the overall domestic magnesium market is still operating steadily. Today, it was learned from the market that the mainstream factory prices in the Fugu area are still at 18300 yuan/ton including tax in spot exchange. The quotations in other regional markets are also generally stable.
Looking back this week, the market situation has mainly been stable with a consolidation operation. Two days before the opening of the market at the beginning of the week, the market price began to increase at 18200 yuan/ton including tax in spot exchange, and the downstream inquiry and procurement atmosphere was good. Afterwards, the market quotation was gradually adjusted to 18300 yuan/ton, and it is reported that there will be some follow-up transactions at this price level on Tuesday morning. On Wednesday, the market became calm again, and there was a lack of momentum for market prices to continue to rise; Yesterday, some factories followed the market and adjusted the price for shipment to 18200 yuan/ton for the second time this week. Downstream demand has also resumed follow-up, and the overall transaction volume is still acceptable. Today, the mainstream factory quotation has returned to 18300 yuan/ton. After several twists and turns, the magnesium market has remained stable this week. There seems to be a tacit understanding between the supply and demand sides in terms of rhythm: there is a feeling of "you retreat and I advance, you advance and I retreat".
Overall, the magnesium ingot market is supported by cost factors in the short term, and there is limited room for a reduction in magnesium prices; However, the overall downstream demand still maintains the principle of "buying on dips", and it is difficult to accept high prices in the market, so the upward trend of magnesium prices is also weak. It is expected that the market will continue to maintain overall stability in the near future, with narrow fluctuations within the range. Continue to monitor market transactions over the weekend.
