According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province rose this week (2.12-2.25), with an average market price of 16450 yuan/ton at the beginning of the week and 16550 yuan/ton at the end of the week, an increase of 0.61%.
Compared to before the holiday, the price of Fugu magnesium ingots showed a slight upward trend, and after the holiday, the magnesium market as a whole showed a pattern of “stable prices trending upwards, and a quiet trading atmosphere”. The pace of downstream enterprises resuming work is relatively slow, and the market is filled with a strong wait-and-see sentiment. Although there has been an increase in market inquiry activities, the actual purchasing willingness is relatively low, and there is no obvious sign of recovery in terminal demand.
supply side
Although inventory has accumulated to a certain extent during the holiday period, manufacturers’ willingness to ship at low prices is not strong, and quotations remain firm. Processing costs for some magnesium alloys have also slightly increased.
Demand side:
The demand side is in a “gradual recovery” state, and most enterprises are mainly digesting their previous inventory. The inquiry and trading atmosphere is relatively low, and the game between supply and demand is in a stalemate. The magnesium market is temporarily maintaining a stable operating trend.
Cost side:
Although the price of 75% silicon iron in Fugu area remained stable compared to before the holiday, the overall market showed a weak trend after the holiday. The futures market has been weak and volatile, with prices falling to a recent low. As a result, spot prices have also been lowered. The price of Fugu blue charcoal is currently running steadily, but the market is facing downward pressure after the holiday. It is expected that the Fugu blue charcoal market will continue to show a weak trend in the short term, and the price may continue to maintain a stable to weak trend.
comprehensive analysis
It is expected that magnesium prices will continue to fluctuate within a range and steadily rise in the short term. The subsequent market needs to closely monitor the dynamic adjustment of supply and demand, the resumption of work and production by downstream enterprises, and the fluctuations in raw material prices.
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