According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province has slightly declined, with an average market price of 16250 yuan/ton at the end of the month and 16266 yuan/ton at the beginning of the month, a decrease of 0.10%.
This month’s market analysis
The magnesium ingot market is expected to remain stable in the first month of 2025. At the beginning of the month, supply and demand were in a stalemate game. In the middle of the month, as factories stabilized and destocked, the pressure on the supply side decreased, and magnesium prices showed a slight rebound at the end of the month.
Supply and demand side
As the Spring Festival approaches, the overall willingness of supply side factories to stabilize prices is strong, and they are steadily reducing inventory. Demand side customers are gradually stocking up in advance for the holiday period, and downstream procurement is showing a good situation this month. Downstream trade, based on its own situation, observes the market and prepares goods in an orderly manner, with actual customers mainly purchasing for essential needs.
From the perspective of supply and demand, this month has experienced a concentrated destocking, reducing inventory pressure on the factory side. With cost support, prices are expected to remain firm, and the possibility of a pullback may be small.
In terms of raw materials
After the pricing of raw material ferrosilicon was finalized in the bidding of Hebei Iron and Steel, the market direction became clear. Other steel mills used this as a reference to carry out a new round of ferrosilicon bidding and procurement. The bidding of major steel mills has been slowly advancing. In addition, there are news of price increases for raw materials such as electricity and transportation costs. There is still some support on the cost side, and some factories in certain regions have little inventory pressure. The fluctuating upward trend of futures market provides favorable support for the spot market. Recently, the spot price of ferrosilicon has been raised by about 50 yuan/ton. According to the Commodity Market Analysis System of Shengyi Society, ferrosilicon (brand: FeSi75～B; The market price for grain size grade/mm: natural blocks in Ningxia region ranges from 6000-6100 yuan/ton, with an average market price of 6081 yuan/ton, an increase of 0.92%.
Raw material blue charcoal, the blue charcoal market is currently operating steadily, with a slight decrease in the average bidding price of block coal at the raw material end. The cost pressure on blue charcoal enterprises has slightly eased, and it is currently operating steadily. The Lantan market is operating steadily, with small material prices in the Shenmu area ranging from 750-800 yuan/ton. The production enthusiasm is still acceptable, and the market mentality is stable. There is slight pressure on inventory and shipment, and the export market volume may continue to shrink in the near future. The overall production pace is stable.
Future forecast
In summary, the current price of magnesium ingots is in a dilemma of rising and falling, with support on the cost side and difficulty in rebounding. But as the Spring Festival approaches and procurement slows down, it does not support price increases. Magnesium prices are expected to remain stable in the short term.
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