Since returning to the market after the Mid-Autumn Festival, the domestic magnesium ingot market as a whole has been operating steadily and steadily. According to market feedback, the mainstream factories in Fugu area quoted a spot exchange rate of 17700-18000 yuan/ton including tax today, and some factories can negotiate actual orders; Prices in other regional markets also saw narrow consolidation.
Since returning to the market on Wednesday, there has been little overall change in the magnesium market, with prices fluctuating and consolidating within the range. Due to the different situations of various factories, the price gap is gradually widening. Some factories are still raising prices, including taxes, at a current exchange rate of 18000 yuan/ton; Some factories, under the pressure of inventory and easing financial pressure, choose to flexibly adjust their quotations and shipments according to the market. It is reported that there is a shipping price of 17600 yuan/ton in cash including tax on the market in the past two days.
From the recent trend of the magnesium market, it is unlikely that the supply and demand pattern will improve in the short term. The market is mainly dominated by rigid demand replenishment, and the overall shipment competition is average, which does not support the subsequent magnesium prices. The weak and stable stalemate game between supply and demand sides may continue.
In summary, due to the current supply-demand imbalance that is difficult to break, there is still pressure on the magnesium market in the short term. Considering the overall difficult operation of the production end and the recent gradual decline in market transaction prices, the factory has a strong stabilizing sentiment, and it cannot be ruled out that corresponding stabilizing measures will be taken in the future. Pay attention to changes in supply and demand before the holiday and follow up on actual market transactions.
