magnesium ingot price analysis
Until October,16th,2020, Magnesium ingot prices in FuGu area have increased by 150RMB/T. At the beginning of the week, when the magnesium ingot market was sold in the cold after the holiday,the magnesium ingot has a downward trend, but because the price of magnesium ingot has begun to fall, the production and operation of magnesium plants are under pressure. In order to alleviate the production pressure of magnesium plants and reduce the occurrence of magnesium plant suspension and reduction, the local government of Yulin City has issued corresponding assistance policies and implemented purchasing and storage measures to reduce the inventory pressure of magnesium plants.
After the government policy was issued, magnesium plants began to raise prices uniformly, and the quotations gradually began to increase. Under the psychological urging of buying up and not buying down, downstream rigid demand enterprises and some export orders began to purchase, and magnesium ingot transactions also steadily kept up.However, according to intermediary trading companies, as prices rise, downstream acceptance has begun to decrease and high-prices orders have decreased. Until 16th, downstream inquires were active, but purchases were more cautious.
Until 20th, Oct, 2020, the overall trend of FuGu magnesium ingot is strong, and the transaction price of magnesium ingot has risen by another 100RMB/T. In the past two days, market transactions have increased, and the inventory pressure of magnesium factories has continued to slow down, some of the magnesium plants with reduced production in the early stage have begun to produce and sell now, and some have begun to pre-sell and arrange orders.
In the absence of policy support, Shanxi’s overall growth trend was slightly slower than that of Fugu. The price different between the quotations of the magnesium plants in Shanxi and the Fugu area has decreased. However, because most of the magnesium plants in Shanxi are equipped with processed magnesium products, they are more reluctant to sell.
After 19th,Oct, the magnesium ingot market maintained its upward momentum due to the rigid downstream demand for magnesium ingots and the continued purchase of export orders this month. Due to the reduction of current magnesium plant inventories and the market transaction keeping up. It is expected that magnesium ingots will continue to maintain a healthy and stable operation.
Anyang Huatuo Metallurgy has in magnesium ingot, silicon metal, manganese metal for several years, own rich experience on the products and price, if want to know more price information about magnesium or silicon, welcome for your attention.