Price trend of magnesium metal

Market analysis this week

According to the data monitoring of the business community, as of the 9th, the average price in the domestic market was 25233.33 yuan/ton, down 4.18% from the beginning of the week. Since September, the magnesium price has been in a slow downward trend, and the magnesium market has become active before the festival. Some replenishment orders have been purchased in the market, and the price of magnesium ingots has rebounded slightly.

Supply and demand

In terms of factories, since the high level of magnesium ingots was corrected at the beginning of the month, the price has dropped by about 1500-2000 yuan/ton. The magnesium price has returned to the middle level, and the magnesium factories have further weakened their willingness to make concessions. In terms of demand, the market was relatively flat in the early stage, and the supply and demand sides were locked in a stalemate game. With the Mid Autumn Festival holiday, downstream procurement increased, foreign orders were released, and market confidence was restored.

Upstream and downstream

This week, the ferrosilicon market operated in shock, the spot market was weak, the futures disk rose at the end of the week, and the bidding price at the steel plant end was difficult to set. In the short term, the ferrosilicon price remained stable.

The first round of increase and decrease in the coke market was implemented, with a decrease of 100-110 yuan/ton. The operating rate of coking enterprises remained stable this week. Due to the lack of active downstream procurement in the near future, the inventory of some coke enterprises increased slightly. In the future, the business community believes that the overall negative factors in the coke market are dominant, and the market has raised and lowered its expectations again. At present, most coke enterprises hold a wait-and-see attitude, and it is expected that the coke market will mainly operate in a weak and stable manner in the short term,

Future forecast

In general, the magnesium market ushered in a short-term release of demand before the holiday, and the low price range of magnesium prices rose. However, in view of the weak demand side as a whole, there is little room for further recovery. Analysts from the business community believe that the magnesium market is expected to run steadily in the short term.