The magnesium ingot market has maintained a stable overall trend this week. From Monday to now, mainstream factories in Fugu area have maintained a stable price range of 17700-17800 yuan/ton including tax in cash exchange; Prices in other regional markets have also remained stable.
In the last week before the National Day holiday this week, the magnesium market remained stable at the bottom. The market quotation remained stable during the week, with transaction prices mostly ranging from 17600 to 17700 yuan/ton including tax in spot exchange. The mid week market was affected by overall macroeconomic regulation, coupled with some buyers intending to stock up in advance before the National Day holiday. In these two days, market trading volume has improved, and industry confidence has also slightly boosted, resulting in a decrease in low-priced goods. However, due to the weak terminal demand in the magnesium ingot market, which is difficult to change, the market demand has not been fully released, and many customers are still cautiously observing. The acceptance of high prices in the market is limited, and there is still a lack of motivation for magnesium prices to continue to rise. The pre holiday market is still moving forward in a stalemate game.
Based on the analysis of various factors, there will not be significant fluctuations in the magnesium ingot market in the short term. Downstream customers will complete stocking according to the pace before the holiday, and factories will flexibly adjust their prices and shipments according to the market. It is expected that the magnesium market will continue to maintain a stable trend before the holiday. In addition, there have been significant fluctuations in the coal market on the raw material side recently, and we will focus on the changes in raw material prices in the future.
