Magnesium prices remain stable in the low zone this week

According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province fell this week (12.16-12.20), with an average market price of 16333 yuan/ton at the beginning of the week and 16333 yuan/ton at the end of the week, with prices remaining stable.

 

This week’s market analysis

 

The transaction performance of the magnesium market has slowed down this week, mainly due to the impact of concentrated downstream procurement last week. At the same time, as Christmas approaches, foreign customers are gradually entering a vacation state, and the number of overseas inquiries has significantly decreased. In the domestic market, procurement is mainly based on essential needs, and overall demand is relatively stable.

 

Supply and demand side

This week, magnesium prices have remained relatively stable, mainly due to the support of factory costs and the stabilization of the ferrosilicon market. Meanwhile, the support of the storage policy also makes it difficult for magnesium prices to further decline. However, due to the overall accounting losses of factories, the market generally expects limited downward space for magnesium prices.

 

Due to the combined effects of loose supply and demand, factory cost support, and storage policies, it is expected that the magnesium market will be mainly stable next week. However, the market still needs to pay attention to demand follow-up in order to determine future market trends.

 

comprehensive analysis

 

This week, the transaction volume in the magnesium market has slowed down, mainly due to the impact of downstream centralized procurement and reduced demand in foreign markets in the early stage. It is expected that the market will remain stable next week, but attention still needs to be paid to the follow-up of demand.

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