This week, the domestic magnesium ingot market has shown an overall weak downward trend. As of Friday, the mainstream factory quotations in Fugu area have fallen back to 17200 yuan/ton including tax in cash exchange; Prices in other regional markets have also weakened and consolidated.
Recently, the overall demand for magnesium ingots in the market has been weak, and downstream customers and intermediaries have shown little enthusiasm for inquiries and purchases, leading to a pessimistic atmosphere in the industry. Due to the obvious imbalance between supply and demand, the market quotation has been under pressure since the beginning of the week, with a current exchange rate of 17400 yuan/ton including tax. It is understood that in order to promote market transactions, the supply side has recently seen frequent low prices in the main production areas. If there is an urgent need to ship, factories can negotiate based on actual orders. If the price is lower than 17200 yuan/ton, they can consider shipping.
From the current analysis of supply and demand, the overall pace of the market is relatively slow. In the extremely weak demand market, intermediaries have become more cautious in their operations. Influenced by the sentiment of "buying up, not buying down", downstream market parties are mostly adopting a wait-and-see attitude, and those who need to reserve stocks are also hesitant, waiting for "lower" prices to appear. Faced with the current market situation of continuous decline, especially as prices approach the threshold of 17000 yuan/ton, some mainstream factories also hope to stabilize their quotations and slow down the downward trend of the market. The overall willingness of the supply side to stabilize prices has increased today.
Overall, the mentality of magnesium ingot market operators has continued to suffer this week, and the market is running weakly. It is expected that in the short term, without any other positive support, the magnesium market may continue to maintain a weak consolidation trend. The follow-up market trend also needs to focus on the actual transaction follow-up situation downstream.
