According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province rose this week (3.31-4.3), with an average market price of 16925 yuan/ton at the beginning of the week and 16950 yuan/ton at the end of the week, an increase of 0.15%.
Supply and demand side
Affected by the environmental inspection news, enterprises that have taken measures to suspend production or reduce output in the early stage are generally adopting a wait-and-see attitude and unwilling to easily resume work and production. Meanwhile, the number of enterprises choosing to shut down for maintenance has increased. The inventory of various factories is generally at a low level, and they have concerns about the direction of future production. Therefore, in terms of prices, they have shown a highly consistent and firm willingness to raise prices.
This week, the main changes have occurred among manufacturers in Shaanxi. Some manufacturers have already implemented production reduction measures, while others are planning to reduce production.
The export quotation of magnesium ingots closely follows the rise in domestic market prices, but overseas buyers hold a reserved attitude towards high prices, and the number of inquiries has significantly decreased recently. In this context, some exporters choose not to quote temporarily to observe market trends. Due to the continued strength of domestic factory quotations, the profit margins of exporters are constantly being squeezed. In addition, with the recent tightening of buy and sell reviews, both buyers and sellers have adopted a cautious attitude, holding onto the currency and waiting for market changes. Until the last day of this week, there was a pullback in export prices.
Raw material end
Although the prices of raw materials such as ferrosilicon and coal have fluctuated recently, overall, the smelting cost remains within a controllable range, so factories lack the motivation to continue maintaining high prices.
comprehensive analysis
In summary, as manufacturers gradually implement production reduction plans and the supply side shrinks, market expectations before Qingming Festival will remain relatively stable and will not experience significant fluctuations. It is expected that in the short term, the domestic magnesium ingot market will continue to be dominated by the current price range, with slight price fluctuations and overall stable operation.
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