1、 Price trend

 

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According to the bulk list data of business society, mixed xylene soared in the first ten days of this month, and the price quickly climbed to the highest level of the year; The trend began to turn around and fall back in the middle of the month. On June 1, the price of mixed xylene was 8180 yuan / ton; On June 28, the price was 8390 yuan / ton, up 2.57% from the beginning of the month and 42.69% from the same period last year.

 

2、 Analysis and comment

 

At the beginning of the month, mixed xylene rose actively, continuing the positive trend in May. Since the middle of the month, with crude oil and mixed xylene in the outer market falling, the decline of mixed xylene in Asia has expanded, the support of external news has weakened, and the market focus has shifted to domestic supply and demand. In June, the domestic mixed xylene maintenance devices were restarted, and the supply increased gradually, while the demand side atmosphere was general. Gasoline blending consumption was dominated by the original inventory, market support weakened, shipments increased, prices fell rapidly, and due to the lack of export support, the decline was more obvious than that of toluene.

 

In terms of crude oil, crude oil continued to fluctuate in a wide range this month. Tight supply and increased demand are expected to support crude oil prices, but the interest rate hikes of central banks across the country led to market concerns about economic recession. As of June 28, Brent fell by $4.86 per barrel, or 3.96%; WTI fell $2.91/barrel, or 2.54%.

 

In the external market, the price of mixed xylene in Asia fluctuated widely this month, and the overall price rose from the previous month. On June 28, the price of imported mixed xylene from South Korea was $1282 / ton, up $40.5 / ton, or 3.26%; The reference price of domestic imported mixed xylene was $1232 / ton, up $24.5 / ton, or 2.03%.

 

In the PX market, domestic PX prices rose this month. The price was 10200 yuan / ton at the beginning of the month and 10900 yuan / ton at the end of the month. The price increased by 6.86% over the beginning of the month and 67.69% over the same period last year.

 

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In the ox market, the price of ox in East China fell back after rising this month. The price was 8800 yuan / ton at the beginning of the month and 8800 yuan / ton at the end of the month. The price was flat compared with the beginning of the month and increased by 41.94% compared with the same period last year.

 

In terms of gasoline, gasoline in Shandong rose rapidly in the first ten days of this month, and fell sharply in the middle of the month. The price was 8980 yuan / ton at the beginning of the month and 9158 yuan / ton at the end of the month, up 1.98% from the beginning of the month and 15.63% from the same period last year.

 

3、 Aftermarket forecast

 

On the cost side (crude oil), the conflict between Russia and Ukraine has not yet ended, and the short-term trend of crude oil is still full of uncertainty. In the future, we will continue to pay attention to the impact of geopolitical situation, opec+ production increase decision, US crude oil and refined oil inventory dynamics, global economic conditions and other factors on crude oil prices.

 

In July, it is expected that the supply of mixed xylene will continue to rise, while the downstream market will weaken, and the terminal gasoline will enter the off-season of consumption. It is expected that the demand for mixed xylene will decrease. On the whole, the high price of mixed xylene is difficult to maintain. If crude oil and the outer market continue to fall, mixed xylene will continue to weaken. Continue to pay attention to the impact of crude oil market, external market trend, mixed xylene device dynamics, port inventory and downstream demand on mixed xylene prices.

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Cobalt prices fell sharply in June

 

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According to the monitoring data of the business agency, the cobalt price fell sharply in June. As of June 30, the cobalt price was 377700 yuan / ton, down 15.22% from 445500 yuan / ton on June 1 at the beginning of the month. Cobalt market demand fell, cobalt market fell.

 

The sharp drop in mobile phone sales affects the demand of cobalt market

 

According to the data released by the China Academy of communications and telecommunications, the domestic market shipped 20.805 million mobile phones in May, a year-on-year decrease of 9.4%. From January to may, the total shipments of mobile phones in the domestic market totaled 108million, a year-on-year decrease of 27.1%. The sales volume of the mobile phone market fell sharply, and the demand for cobalt in the mobile phone market fell significantly. The demand for cobalt in mobile phones and other electronic products has been lower than that of new energy vehicles. The growth of new energy vehicles has greatly supplemented the demand of cobalt market, but the growth of new energy vehicles has not exceeded expectations, and the demand for cobalt by new energy vehicles has declined due to the epidemic. The overall demand for cobalt fell, and the downward pressure on cobalt prices increased.

 

The industrial chain of new energy vehicles recovers, and the demand of cobalt City recovers

 

According to the data released by the China Association of automobile manufacturers, the production and sales of domestic new energy vehicles in May were 466000 and 447000 respectively, up 49.5% and 49.6% month on month, with a year-on-year increase of 1.1 times. From January to may, the production and sales of domestic new energy vehicles reached 2.071 million and 2.003 million respectively, an increase of 1.1 times year-on-year. The production and sales of new energy vehicles rose sharply month on month, the new energy vehicle market recovered, and the demand of cobalt market recovered.

 

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In terms of output, China’s power battery output in May totaled 35.6gwh, an increase of 157.9% year-on-year and 22.8% month on month. Among them, the output of ternary battery was 16.3gwh, accounting for 45.8% of the total output, with a year-on-year increase of 225.7% and a month on month increase of 58.2%. In terms of loading volume, the loading volume of power batteries in China reached 18.6gwh in May, an increase of 90.3% year-on-year and 39.9% month on month. Among them, the loading volume of ternary batteries was 8.3gwh, accounting for 44.7% of the total, with a year-on-year increase of 59.0% and a month on month increase of 90.3%. At present, lithium iron phosphate is still ahead of ternary batteries in terms of production and loading volume, but the growth rate of ternary batteries is higher than that of lithium iron phosphate batteries, which has narrowed the gap with the market share of lithium iron phosphate. As more high-end consumer brands enter the new energy vehicle market, the utilization rate of ternary batteries will be improved. The output of ternary battery increased, and the demand of cobalt market increased.

 

Market Overview

 

Baijiaxin, a data analyst at business news agency, believes that the sharp decline in mobile phone sales has affected the demand of cobalt market, the demand of new energy vehicle industry chain has warmed up, and the demand of cobalt market has recovered, but the overall decline in cobalt market demand is less than expected, and the overall decline in metal plates has affected the cobalt market. In the future, the recovery of cobalt market demand may be less than expected, the metal plate fell in an all-round way, and the pressure of cobalt price decline increased. It is expected that the cobalt price will fluctuate slightly in the future. However, new energy vehicles still play a great supporting role in the cobalt market, and there is limited room for the decline of cobalt price, 350000 yuan or the decline threshold of cobalt price.

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According to the price monitoring data of business agency, as of July 1, 2022, the average reference price of domestic n-propanol was 8233 yuan / ton, which was 133 yuan / ton lower than that on June 26 (the average reference price of n-propanol was 8366 yuan / ton), a decrease of 1.59%; Compared with June 1 (the average price of n-propanol is 8700 yuan / ton), the average price was reduced by 467 yuan / ton, a decrease of 5.36%.

 

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It can be seen from the data monitoring chart of the business club that the domestic n-propanol market as a whole fell slightly this week (6.27-7.1). At the beginning of the week (June 27), Shandong n-propanol production plants slightly reduced the ex factory price of n-propanol by 50 yuan / ton. The small price adjustment of large factories led to a small decline in the overall market. Then, in the middle stage, Shandong large factories again slightly reduced the ex factory price of n-propanol to 7600 yuan / ton, with a reduction of 100 yuan / ton. N-propanol suppliers followed the footsteps of large factories and made market quotations. At present, as of the weekend (July 1), The domestic market price of n-propanol is around 7600-7800 yuan / ton, with a decrease of 200 yuan / ton within the week. In Nanjing, the n-propanol device operates normally, and the ex factory price of n-propanol remains stable compared with the previous period. Dealers around the country still have reservations about the price. The price is not easy to monitor, which may lead to differences in the specific negotiation situation. There are also differences in each region. The actual order negotiation is the main thing, and we will wait and see the changes in raw material prices and shipments in the future.

 

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In terms of upstream ethylene, the external ethylene market fell in June. The market price of ethylene in Asia fell. As of the 28th, CFR Northeast Asia closed at $976-986 / ton, and CFR Southeast Asia closed at $1096-1106 / ton. The market price of ethylene in Europe fell sharply. As of the 28th, FD northwest Europe closed at $1538-1548 / ton and CIF northwest Europe closed at $1300-1308 / ton. The price of ethylene in the United States rose violently. As of the 28th, the price was 552-570 yuan / ton. In June, the external ethylene market basically fell. The market transaction was poor, and the market continued to decline. In June, the external price of ethylene fell violently. At the beginning of the month, the average price of ethylene was 1302.2500 US dollars / ton, and at the end of the month, the average price of ethylene was 1232.50 US dollars / ton, down 5.34%.

 

Forecast of future market trend of n-propanol

 

At present, the trading atmosphere of n-propanol on the floor is mild, and the downstream demand users just need to replenish on bargain hunting. The news on the floor is relatively calm. The analysts of business agency n-propanol believe that in the short term, the domestic n-propanol market is more stable, mainly in the mid market, and more attention should be paid to the specific changes in supply and demand.

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Price trend of metallic magnesium

 

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Market analysis this week

 

According to the monitoring data of the business agency, as of the 24th, the average price in the domestic market was 26166.67 yuan / ton, down 2.48% on a weekly basis. This week, the magnesium ingot Market was relatively stable, the market was in a weak consolidation operation, and the supply and demand sides maintained a stalemate.

 

Supply and demand

There is no significant change in the fundamentals of supply and demand in the magnesium market for the time being, and the market price has reached the low point of the year. Considering the factory cost and the high temperature rise, the difficulty of work has increased. Individual factories have started the maintenance plan, and the willingness of magnesium factories to stabilize the market is relatively strong. Some factories that observe the market temporarily do not offer prices, and have a strong mentality of selling at low prices. On the demand side, although the current price is low, only some downstream customers just need replenishment in time, and the performance of inquiry and transaction is flat.

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Upstream and downstream

 

The ferrosilicon market continued its weak operation. On June 24, the mainstream quotation in Ningxia fluctuated in the range of 8200-8500 yuan / ton. The market’s expectation of ferrosilicon demand was poor. In addition, the futures were low, and the transaction price of ferrosilicon kept falling. However, the market quotation has reached the cost line, and the room for decline is relatively limited.

 

The downstream magnesium alloy and magnesium powder are relatively stable, the market demand for magnesium alloy has warmed up, and the production and procurement enthusiasm of die casting plants has rebounded; Magnesium powder transaction is still weak. The overall downstream demand increment is small.

 

Aftermarket forecast

 

On the whole, the contradiction between supply and demand in the magnesium market is still in existence. Considering the cost pressure and weather reasons, the magnesium plant has a strong willingness to maintain stability, and the subsequent decline of the market is limited. However, the market lacks positive support, and the transaction rhythm is slow, so the price of magnesium ingots is difficult to rise and fall. It is expected that the market price will be stagnant in the short term, so it is necessary to pay attention to the follow-up of subsequent demand.

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In June, influenced by upstream raw materials, the price trend of nylon filament first rose and then fell in June. In the middle and early June, due to the strong rise in the upstream raw material market and the increased pressure on cost support, the market trend of nylon filament remained high after the rise in May. In late June, the price of nylon filament fell along with the raw materials. On the supply and demand side, the on-site supply of goods remained stable, the downstream end market demand continued to be weak, the enthusiasm for taking goods was not high, and most downstream customers lacked confidence in the future market. The overall market wait-and-see atmosphere was thickened, and the trading atmosphere was not prosperous.

 

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Market price trend

 

Nylon price chart

 

Price trend of nylon POY (86d/24f)

 

From the perspective of price trend, the price of nylon filament first rose and then fell in June. According to the price monitoring of the business club, the price of domestic nylon POY (superior product; 86d/24f) fell by 75 yuan / ton from 18250 yuan / ton at the beginning of the month to 18700 yuan / ton in the middle of the month, and then to 18175 yuan / ton at the end of the month, a decrease of 0.41%.

 

The price of nylon DTY (premium product; 70d/24f) fell by 220 yuan / ton, or 1.07%, from 20480 yuan / ton at the beginning of the month to 20920 yuan / ton in the middle of the month, and then to 20260 yuan / ton at the end of the month.

 

The price of nylon FDY (premium product: 40d/12f) fell by 325 yuan / ton, or 1.79%, from 21000 yuan / ton at the beginning of the month to 21425 yuan / ton in the middle of the month, and then to 20625 yuan / ton at the end of the month.

 

Upstream raw material Market

 

Price fluctuation chart of nylon filament industrial chain

 

Raw material cyclohexanone: the domestic cyclohexanone market rose and fell in June. According to the monitoring data of business agency, the average market price of domestic cyclohexanone at the beginning of the month was 11610 yuan / ton, and at the end of the month (as of June 27), the average market price of domestic cyclohexanone was 10900 yuan / ton, a decrease of 6.12% in the month and a year-on-year increase of 7.07%. At the beginning of the month, the domestic cyclohexanone market was strong and upward, and the cyclohexanone market rose significantly with the support of strong costs; In the middle and last ten days of the month, the domestic cyclohexanone market continued to decline, the spot price of raw material pure benzene fell back, the cost side lacked support, the downstream chemical fiber demand was weak, the market supply was abundant, the shipment was obviously blocked, and the price continued to fall.

 

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Raw material caprolactam: in June, the price of caprolactam followed that of crude oil, rising first and then falling. According to the monitoring data of the business community, the cost support began to weaken in the middle of June. The price of caprolactam fell from 14833 yuan / ton in the middle of the month to 13800 yuan / ton at the end of the month. Some manufacturers stopped production for maintenance, and the supply of caprolactam decreased. The downstream demand is insufficient, and the procurement is cautious. According to the caprolactam analysts of the business club, the cost price of caprolactam has been lowered, the supply and demand are both weak, and the market is mainly bad. The downstream demand is low and the load is reduced. In the absence of favorable conditions, it is expected that the caprolactam market will continue to decline in the short term.

 

Supply and demand market

 

On the supply side, the start-up of nylon production plants remained high, but the on-site spot supply remained sufficient, and some manufacturers had inventory pressure. In addition, the demand for downstream terminals is still weak, the overall enthusiasm for taking goods in the field is not good, and the follow-up of new orders is limited; It is difficult to make a deal on the floor. On the whole, there is still great pressure on the imbalance between supply and demand in the nylon filament market.

 

Aftermarket forecast

 

In general, the raw material end continued to fall in the middle and late ten days, the supply of goods was sufficient, the demand end continued to be weak, there was no too much positive feedback at the end, and the market was mainly bad. Analysts from the business community predicted that the price of nylon filament would be weak and lower in the later period.

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441# silicon price trend

This week, the rising trend of metallic silicon is gradually slowing down, and the heat of price rise is somewhat lower than that of the previous week. From the middle of the week, the silicon price tends to be stable, maintaining at around 19300-19500 yuan / ton. There are many tentative inquiries in the market, but few actual transactions. Metal silicon carriers’ willingness to ship increased, the situation of covering the plate gradually disappeared, and the shipping quotation was lower than the market price, but the actual transaction was still lower than expected. As of June 24, according to the price monitoring of the business community, the average price of 441\\1 metal silicon in the domestic market was 19450 yuan / ton, up 4.91% from last week.

 

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Influencing factors of metal silicon price fluctuation

Production capacity increase in Yunnan

On the supply side, in June, due to insufficient precipitation in Yunnan, the price of electricity fell slightly. The price of electricity is expected to be further reduced in July. Yunnan Dehong silicon plant will resume production in the middle of June, and the capacity of the newly restored part will be released at the end of the month.

 

Demand side

 

The operating rate of aluminum alloy enterprises remains unchanged, the demand for aluminum alloy has not improved significantly, the operating rate is lower than that of the same period in previous years, and the price remains weak. The price of ADC12 has dropped by 500 yuan / ton, and the mainstream quotation is 195000 yuan / ton. Under the declining market, die-casting enterprises have cost pressure, and the procurement needs to be replenished.

 

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The reference market price of organosilicon DMC in mainstream areas is 20480 yuan / ton. The overall downstream demand in the site is quiet, and the demand breakthrough has not yet emerged, resulting in weak acceptance of metal silicon prices with gradually rising raw materials.

 

At present, the mainstream transaction price of polycrystalline silicon in China is in the range of 230000-240000 yuan / ton. Although new capacity has been built recently, some polycrystalline silicon enterprises have been overhauled, which has led to higher prices and affected the increase in demand for raw materials. In addition, a local fire in a polysilicon plant reduced the production load of local enterprises, and the start-up fell month on month.

 

Aftermarket forecast

 

As the price of metal silicon has been rising along the way and the operating rate in Southwest China has increased in the past two weeks, the fear of high prices and wait-and-see mood of downstream enterprises has grown, and downstream customers have pressed down the price of metal silicon seriously due to their low profits. On the whole, after the rebound of metallic silicon, the upward pressure is strong, the supply increase is expected, and the demand release is limited. In the short term, when the transaction is deadlocked, the market is mostly bearish.

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In June, the domestic ethanol market fluctuated in a narrow range. According to the sample data monitored by the business club, the price was 7500 yuan / ton at the beginning of the month and 7483 yuan / ton at the end of the month (June 27), a decrease of 0.22% within the month and a year-on-year increase of 7.87%.

 

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At the beginning of the month, the number of raw wheat on the market gradually increased. Due to the auction of aged rice and other factors, enterprises were more cautious in acquisition, the feed demand was relatively weak, and the corn price was weak. Some units in some regions have maintenance plans, and some units that have been shut down for a long time will soon resume normal production. There is no significant change in the supplier in the short term. In terms of demand, whether it is Baijiu or ethyl acetate downstream of chemical industry, the recent demand is good.

 

In the middle of May, domestic ethanol was still in the off-season of demand, and the price was mostly volatile. The quotation of production enterprises mostly fluctuates in a narrow range. There are slight differences among regions. The Northeast market has a downward trend in Heilongjiang, with orders from the main factories in the field, and low inventory pressure. At the early stage of Jilin market, the parking device has not heard of the start-up plan yet, and the on-site demander mainly consumes the spot goods of large manufacturers in Heilongjiang.

 

In late June, the domestic ethanol market was dominated by shock consolidation. At present, the supply side is relatively stable, but the demand performance is weak.

 

According to the price monitoring of the business club, in the first half of 2022 (1.1-6.30), 136 commodities rose month on month in the list of bulk commodity prices, mainly in the chemical sector (64 in total) and the agricultural and sideline sector (16 in total), and the commodities with an increase of more than 5% were mainly in the chemical sector; The top 3 commodities with growth rate were butadiene (152.15%), lithium hydroxide (118.46%) and sulfur (89.80%). A total of 95 commodities fell month on month, mainly in the chemical industry (43 in total) and steel (15 in total), and commodities with a decline of more than 5% were mainly in the chemical industry sector; The commodities with the top three declines were electrolytic manganese (-57.47%), magnesium (-46.60%) and glycine (-45.71%). In this half year, the average increase and decrease was 6.53%.

 

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As of June 27, the latest price dynamics of ethanol market in various regions:

 

Region, Category, Price

Guangxi region Honey alcohol 8250-8300 yuan / ton

Guangxi region Corn / Cassava 95% alcohol 7650-7800 yuan / ton

Guangxi region Anhydrous ethanol 8350-8400 yuan / ton self delivery

Guangdong region Corn alcohol Suspended quotation without goods

Guangdong region Rice / Cassava general ethanol 7600-7750 yuan / ton self delivery

Guangdong region Anhydrous cassava ethanol 8450-8550 yuan / ton Dongguan self delivery

Sichuan region Corn alcohol 8000 yuan / ton ex factory tax included

Yunnan region Molasses alcohol 8200-8250 yuan / ton

Henan region Superior 7350 yuan / ton ex factory tax included

Henan region Anhydrous ethanol 8100-8150 yuan / ton, ex factory tax included

Hebei region General level 7350-7400 yuan / ton, tax included

Shandong region Common wheat 7250-7300 yuan / ton

Shandong region Superior corn 7800-7900 yuan / ton

Shandong region Corn anhydrous 8150-8200 yuan / ton

Southern Jiangsu General level 7450-7500 yuan / ton

Northern Jiangsu General level 7250-7300 yuan / ton

Northern Jiangsu Superior 7400 yuan / ton

Northern Jiangsu anhydrous 8100-8200 yuan / ton

Anhui region General level 7250-7350 yuan / ton, ex factory tax included

Anhui region anhydrous 8200 yuan / ton ex factory tax included

Jinzhou area, Liaoning Province Corn alcohol general grade 7350-7400 yuan / ton

Heilongjiang Region General level 6850-7000 yuan / ton, tax included

Heilongjiang Region Anhydrous ethanol 7900-8000 yuan / ton

Jilin Region Ordinary alcohol 7050-7250 yuan / ton, ex factory tax included

Jilin Region Premium alcohol 7150-7200 yuan / ton, ex factory tax included

Jilin Region Anhydrous ethanol 7750-8200 yuan / ton, ex factory tax included

 

At present, the downstream demand is relatively light, the demand for Baijiu is in the off-season, and the ethyl acetate device has been started, which may drive the demand in a narrow range. The ethanol analysts of the business agency expect that the domestic ethanol market will be mainly sorted out in the short term.

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Price trend of domestic sodium pyrosulfite

 

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According to the monitoring of the business agency, the price of domestic sodium pyrosulfite was relatively strong this week. The average price of industrial sodium pyrosulfite was 3316.67 yuan / ton at the beginning of the week and 3350.00 yuan / ton at the end of the week, an increase of 1.00% during the week.

 

This week, the domestic industrial sodium pyrosulfite market price range is 3000-3550 yuan / ton, and most prices are concentrated around 3200 yuan / ton. The inventory of enterprises has decreased, and enterprises mainly complete orders from old customers. (the above prices refer to the external quotations of domestic mainstream enterprises, and some unreported enterprises are temporarily excluded from their scope. The prices are only for reference and have nothing to do with the final pricing of the manufacturer. Please contact the manufacturers for details).

 

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Since the beginning of June, the price of domestic soda ash has increased by 2.46% and the price of sulfur has decreased by 6.42%. In general, the upstream raw material cost of sodium pyrosulfite is still high, and the continued high cost will continue to support the future market price of sodium pyrosulfite.

 

Aftermarket forecast

 

According to the analysts of the business club, the inventory of sodium pyrosulfite has decreased, the raw material cost has remained high, and the overall domestic market price of sodium pyrosulfite will continue to operate stably, moderately and strongly in the short term.

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Acetic anhydride prices fell sharply this week

 

According to the monitoring data of the business club, the price of acetic anhydride fell sharply this week, and the market of acetic anhydride fell. As of June 19, the price of acetic anhydride was 7700.00 yuan / ton, down 9.94% from 8550 yuan / ton on June 12 last week. The price of acetic acid fell sharply, the raw material cost of acetic anhydride fell, and the market of acetic anhydride fell sharply.

 

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The price of raw material acetic acid fell at a high level

 

It can be seen from the statistical data of business association that the correlation coefficient between acetic anhydride and acetic acid is 0.967 from June 2021 to may 2022, and acetic anhydride and acetic acid are highly positively correlated. It can be seen from the trend chart of acetic acid price of business club that the price of acetic acid fell sharply this week, and the market of acetic acid fell sharply this week. As of June 19, the price of acetic acid was 4150 yuan / ton, down 21.40% from 5280 yuan / ton on June 12 last week. This week, acetic acid enterprises started their business one after another. In the off-season of the market, the supply of acetic acid increased, the demand declined, the momentum of acetic acid rising weakened, and the downward pressure increased. The cost of acetic anhydride decreased, and the downward pressure on acetic anhydride increased.

 

Methanol price stopped rising and fell back

 

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As can be seen from the methanol price trend chart of the business club, the methanol price stopped rising and fell this week, and the methanol market stabilized. As of June 19, the methanol price was 2712.5 yuan / ton, up 2.07% from the methanol price of 2657.5 yuan / ton on June 12 last week, and down 0.09% from the high methanol price of 27155 yuan / ton on June 16 at the beginning of the week. This week, the price of methanol stopped rising and fell, the cost of raw materials for acetic anhydride fell, the driving force for the rise of acetic anhydride weakened, and the downward pressure increased.

 

Outlook

 

According to the acetic anhydride data analyst of business agency, the high price of raw material methanol fell this week, the price of acetic acid fell sharply, and the cost of acetic anhydride fell sharply; This week, acetic acid enterprises resumed operation, the supply of acetic acid increased, the demand was insufficient, the price of acetic acid fell, and the cost of acetic anhydride fell sharply. In general, the price of acetic anhydride raw materials fell sharply, and it is expected that the price of acetic anhydride will fall sharply in the future.

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Price trend of metallic magnesium

 

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Market analysis this week

 

According to the monitoring data of the business agency, as of the 17th, the average price in the domestic market was 26833.33 yuan / ton, down 0.62% on a weekly basis. The market price of magnesium ingots decreased slightly this week. After the centralized procurement last week, the market transaction performance this week was not positive. The downstream demand was mostly just for procurement. The market returned to rationality again, and there were signs of bottoming out and stabilizing again.

 

Supply and demand

The pattern of supply exceeding demand still exists. As the temperature rises, some factories begin to overhaul, the production of magnesium plants follows the change, the inventory remains flexible, the price of magnesium ingots still hovers near the cost line, and the willingness of factories to ship at low prices is reduced. On the demand side, after releasing part of the demand last week, the market mentality returned to rationality again, the market supply of low-cost goods became less and less, and the actual order trading volume this week was not ideal.

 

Upstream and downstream

 

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Ferrosilicon futures fell, bidding prices fell, market confidence was frustrated, spot prices also showed a trend of correction, cost side support weakened, and magnesium ingot prices also fell along with raw ferrosilicon. The price rising sentiment of Lanchan enterprises is strong. The rising price of raw coal has led some enterprises to expand their losses and choose to stop production for maintenance. The price rising trend of Lanchan has become a trend. The cost side of magnesium ingots is still supported, and the price of magnesium will be difficult again.

 

Aftermarket forecast

 

On the whole, the operating pressure of the magnesium market is still there. There is production cost pressure at the top. The loss quotation of Lanchan enterprises rises. At the bottom, the market demand is depressed. Buyers purchase at a low price, and most of them just need to replenish the stock. In the short term, it is difficult to change the weak situation in the magnesium market. Considering that the cost line factories are unwilling to ship at a low price, it is expected that the magnesium market will still be weak.

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