Since the return to the market during the Spring Festival, there has been little overall change in the magnesium ingot market, which is basically consistent with the pre holiday period. By Friday, it was learned that the mainstream factories in Fugu area quoted a spot exchange rate of 16000-16100 yuan/ton including tax, and the market prices in other regions were also basically stable.
Due to the recent end of the Spring Festival holiday, the overall transaction situation in the market during the two days of resuming work is still not high. According to market research, on the supply side, some factories currently have limited inventory due to pre delivery orders, while others are still delivering orders. The market price remains stable at 16000-16100 yuan/ton including tax, and it is difficult to find any lower price. On the demand side, considering that most demand users had pre holiday stocking before the New Year, and there are still some downstream factories that have not fully resumed work. Therefore, it is expected that the downstream market will adopt a wait-and-see attitude in the near future, with some first-time customers purchasing in moderation.
Overall, there is not much inventory pressure in the current supply side market, and factories have a weak willingness to negotiate prices; At the same time, due to the recent resumption of the market after the holiday, the downstream demand is limited, and the price increase of magnesium ingots lacks actual momentum. It is expected that the magnesium ingot market will remain stable in the near future.
