magnesium ingot price rising

The market resumed at the beginning of this week, and the transaction in the magnesium ingot market reappeared high rising. One one hand, last Friday, Ningxia issued a notice on the “ 2021 Energy Consumption Total and Intensity Dual Control Target Tasks and Key Work Arrangements”, the region’s GDP energy consumption dropped by 3.3%, and the increase in the energy consumption was controlled within 2.6 million standard coal, under the influence of this news, ferrosilicon futures rose sharply, magnesium plants are generally bullish on the price of ferrosilicon in the later period, and the overall quotation has begun to rise sharply. On the other hand, Guizhou and Xinjiang continue to have mining disasters, coal production area safety inspection continue to be superimposed on environmental protection inspections, as well as the reduction of coal pipeline quantity required in Inner Mongolia at that month, coupled with the impact of sandstorms on foreign transportation, the expected reduction of coal supply is intensified, plus coal early stage slightly upward adjustments downstream began to purchase again, coal inventories were reduced again and the market rally reignited, and coal prices at pitheads stopped falling and rebounded. At present, the price of raw coal has risen sharply again, and the purchase price of magnesium plants in mostly in 600-640RMB/T.

On 19th, April, 2021, Magnesium ingots 99.9% are quoted at 16200-16300 RMB/T EXW Cash price, which increase 550RMB/T from last Friday, acceptance is 16300-16400 RMB/T EXW price.

The raw materials have risen again, and the production cost of magnesium ingots has reached a high level, in addition, the overall inventory of Fugu is currently at a low level, the magnesium plants are respected the price to be higher, some plants even do not quota and respect for higher price. Before the prices of raw coal and ferrosilicon are not yet clear, both the supply and demand sides of the magnesium market are temporarily waiting, it is expected that magnesium ingots will tend to rise in the short term.