In the first week of March, the domestic magnesium ingot market showed a trend of initially suppressing and then stabilizing. In the first half of this week, magnesium prices continued to decline under pressure, with prices reaching a peak of 15000 yuan/ton at one point, creating a pessimistic market atmosphere; In the middle and later stages of the week, due to some orders entering the market at low prices for procurement and the increasing stabilizing mentality of factories, market prices stopped falling and stabilized. At present, it is understood that some factories have adjusted their quotations to 15200 yuan/ton, while others are temporarily not quoting, and the market has entered a wait-and-see stage.
From the perspective of market supply and demand, on the supply side, at the beginning of this week, factories had a strong willingness to proactively lower prices and ship goods in order to digest inventory, and market prices continued to fall under pressure. As the magnesium price reaches the price point of 15000 yuan/ton, some factories have chosen not to quote temporarily, increasing their willingness to raise prices. On the demand side, although market transactions have improved recently, the overall demand situation has not shown significant improvement. After the prices fell to the low point in the mid to late week, some export orders and terminal demand began to enter the market for procurement. According to feedback, there has been a certain amount of transaction and shipment in the market recently at the price of 15000 yuan/ton including tax in spot exchange.
Overall, the current market price of magnesium ingots has temporarily stopped falling and stabilized. Factories have a strong willingness to raise prices, and there are not many low-priced sources in the market; After stabilizing prices, some downstream purchases still rely on cautious observation. It is expected that the magnesium market will continue to operate steadily next week. The focus still needs to be on following up on downstream demand and reducing factory production restrictions.
