Overview of the price trend of magnesium metal
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Market analysis for this week
According to the monitoring of Business Society, as of the 21st, the average price of domestic magnesium ingot market was 20766.67 yuan/ton, a decrease of 1.58% on a weekly basis. The market price of magnesium ingots continued to fall this week, but the decline began to slow down gradually. After falling to the 20000 yuan threshold, the price began to rise steadily. The price of magnesium in the main production areas rebounded 500 yuan/ton after the Dragon Boat Festival.
In terms of supply and demand
On the factory side, magnesium prices have fallen to the factory cost line, and there is limited room for retreat. Coupled with the difficult operation of the factory under the high temperature and scorching heat, magnesium factories have a strong willingness to increase prices. In terms of demand, the recent trading volume of some magnesium factories in the main production areas has improved compared to before, but with the approaching holiday, procurement has slowed down.
In terms of raw materials
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Recently, coal prices have shown a slight rebound trend after stabilizing, with ferrosilicon futures fluctuating and rebounding before the holiday. After the holiday, the ferrosilicon market is operating in a weak consolidation mode, and magnesium prices are expected to stabilize at the bottom under cost support.
Future Market Forecast
Overall, the current magnesium price has dropped to near the factory cost line, and the factory is not willing to continue selling at a lower price. Moreover, coal prices have rebounded slightly today, and magnesium prices are expected to rebound at the bottom. However, there has been no significant improvement in downstream demand recovery, and it is difficult for magnesium prices to continue to rebound. It is expected that magnesium ingot prices will remain stable in the short term.
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