In the second week after the holiday, the domestic magnesium ingot market showed an overall stable trend of development. According to the market, the mainstream factories in Fugu area have stable quotations at 16000 yuan/ton including tax in cash exchange today, and the market prices in other regions have also remained stable.
Looking back at the overall market this week, there has been no significant change, and the industry sentiment is also relatively stable. At the beginning of the week, mainstream factory quotations remained stable at 16000 yuan/ton including tax in cash exchange, with low market activity; During the week, with some factories slightly loosening their quotes for capital withdrawal, there were shipment transactions in the market at a spot exchange price of 15900-15950 yuan/ton including tax; As of Friday, the mainstream market price remained in the range of 15950-16000 yuan/ton, and the main tone of the magnesium market remained stable.
From the current market perspective, the price of magnesium ingots continues to maintain stable operation after the long holiday resumption, which is basically consistent with the pre holiday market. On the one hand, the overall inventory pressure of the supply side factories is not high at the moment, and they will ship according to the market, resulting in low price sentiment and unclear price fluctuations; On the other hand, due to factors such as slow recovery of terminal demand after the new year and pre holiday stocking, downstream customers' purchasing enthusiasm is relatively average, and there is a lack of positive support for the upward trend of magnesium prices.
In summary, in the short term, the supply and demand sides are mostly in a stalemate game, and magnesium prices are difficult to rise or fall. It is expected that the magnesium ingot market will continue to maintain a stable trend next week, with a narrow range of consolidation within the price range. Continue to monitor the market transactions over the weekend.
