Overview of trend of magnesium metal in February
| Thiourea |
In February, the daily average price of domestic magnesium ingots fluctuated between 21200-22000 yuan/ton, and the average price in the cycle was 21753.09 yuan/ton, with a rise and fall of -2.88%. In the first half of the month, the demand recovered slowly and the price of raw material coke declined, while the price of magnesium gradually declined. The price of magnesium ingots fell to around 21100-21300 yuan/ton due to the downward quotation of magnesium manufacturers and the strong competitive atmosphere of manufacturers. In the later part of the month, the price of magnesium fluctuated. Due to the safety time of coal mines in Inner Mongolia, the price of raw coal and blue charcoal rose, and the price of some factories increased. At the end of the month, it is not ruled out that some magnesium factories need to return money due to the squeeze of supply, which will have a certain impact on the price.
According to the price monitoring of the Business Agency, as of February 27, the spot exchange of magnesium ingot market including tax was 21366.67 yuan/ton, down about 700 yuan/ton from the beginning of the month, down 2.88%, down 53.55% from last year.
Ferrosilicon fell 4.41% in February
On the 27th, the average market price in Ningxia was 7804.29 yuan/ton. The ferrosilicon market continued to decline in February, and the whole market has been in a downturn. In the early stage, due to the decline in the futures market and the reduction in the price of raw materials, the spot market of ferrosilicon continued to decline under the conditions of many adverse factors. However, in the afternoon of the 22nd, a sudden collapse accident occurred in the Alashan open-pit coal mine in Inner Mongolia. The price of lump coal in the affected areas accelerated and the price of blue charcoal also increased accordingly. This has supported the cost of magnesium ingots, and the market sentiment has also improved.
On the 27th, the mainstream price of small and medium-sized materials in Shenmu market was 1250-1550 yuan/ton, and the coke surface was 900-1250 yuan/ton; The mainstream price of small and medium-sized materials in Fugu market is 1220-1600 yuan/ton, and the coke surface is 940-1300 yuan/ton.
Aftermarket forecast
In general, the price center of magnesium ingot moved down in February, and the price of coal and blue coke moved up when affected by emergencies, but the downstream demand did not break through substantially and the price support of ferrosilicon for personal leave was insufficient. It is expected that the magnesium ingot market will operate in a weak and stable manner in the short term,
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