Magnesium market transaction needs to be followed up

On November 30 (Thursday), it was learned from Hainan West Asia Group that the ex-factory cash transaction price of 99.9% magnesium ingots in Fugu area was 2909.40~2923.52USD/ton.

This week, the market has shown a slightly volatile trajectory of first rising, then stabilizing and then falling. After all, on the one hand, the demand side is still weak. Traders currently have many small orders in circulation and are mainly waiting and watching. The overall market transactions are limited, and the support from the raw material cost side has weakened. In addition, Frequent exchange rate fluctuations and the tightening of capital chains at the end of the month have resulted in a lack of further upward momentum for magnesium prices. The supply and demand sides are in an anxious game, and the market outlook is still at risk of being weak and fluctuating within a narrow range.

At present, the supply and demand sides of the magnesium metal market are still in a stalemate, and the price is slightly weak. From the analysis of supply and demand, the market supply is relatively stable, and manufacturers are currently more willing to raise prices. However, combined with the downstream order situation, the overall purchasing atmosphere is not strong, and terminal demand is still weak. Downstream rigid demand procurement is mainly, and the time for superimposed production resumption is still unknown. , leading to more cautious market operations, and magnesium prices lack the power to continue to rise.

Therefore, Hainan West Asia predicts that the domestic magnesium metal market may maintain a weak and stable trend in the short term, with the price range consolidating within a narrow range. It is necessary to continue to pay attention to downstream demand and manufacturer production conditions.

For more information on ferroalloy price trends and market conditions, please contact Hainan West Asia Group.