Market analysis for this week

According to the monitoring of Business Society, as of the 11th, the average price of domestic magnesium ingot market was 21933.33 yuan/ton, an increase of 3.62% on a weekly basis. This week, domestic magnesium ingots rose strongly in the middle of the week, with foreign orders delivered and demand following up actively. After reaching the 22000 yuan/ton mark, they stabilized and fell back in the later part of the week.

In terms of supply and demand

On the factory side, due to the low level of factory operations and a decrease in magnesium ingot inventory, there is not much pressure on manufacturers to ship, and the quotation is relatively firm. In terms of demand, in the first half of the week, due to the mid month shipping schedule, traders have entered the market to purchase, and inquiries have been positive, which has helped push up magnesium prices. But with the completion of demand replenishment, market transactions slowed down in the second half of the week, and magnesium prices began to loosen and decline.

In terms of raw materials

This week’s silicon iron futures fluctuated greatly, with market quotations in Ningxia region around 6600-6850 yuan/ton. The orchid charcoal market is operating steadily, with some companies that have stopped production in the early stages resuming production, and the construction of enterprises has increased. The overall inventory in the market is still at a low level, and prices remain firm.

Future Market Forecast

Overall, the inventory of magnesium ingots has further decreased, with an increase in inquiries and transactions, and the quotations from magnesium factories have remained firm. But with the price increase and the basic completion of replenishment demand, it is expected that the short-term magnesium ingot market will be mainly wait-and-see, and prices may fluctuate.