Market analysis this week

According to the monitoring of the business community, as of the 19th, the average price in the domestic market was 22333.33 yuan/ton. The magnesium market was cold, and the price of magnesium ingots was weak. There are few rainy orders, and many factories have made weak adjustment in their quotations. Some manufacturers said that with the support of raw coal and other cost prices, magnesium prices may fall to the bottom.

Raw materials

The average market price of ferrosilicon in Ningxia is 8178.57 yuan/ton, which is rising steadily. In January, the steel bidding was launched in advance, which released the market demand. Most suppliers set prices. At the same time, the inventory resources were relatively limited, and the short-term counter market was operating steadily.

In terms of coal, the price of peat in Fugu market kept stable, the price of lump coal in some coal mines rose slightly, the production and sales of peat were balanced, and the inventory was slowly digested.

Supply side

As the price of magnesium ingots continues to decline, the contradiction between supply and demand in the magnesium market has become increasingly prominent. Some magnesium plants have been forced to actively reduce production due to the tight capital chain and serious losses. Nitrogen has little impact on the current overall market pattern.

Future market forecast

As a whole, the magnesium ingot market is in the downward channel, with unbalanced supply and demand, and a strong bearish sentiment in the market. Although cost support slows down the decline of magnesium price, the overall situation is difficult to reverse. It is expected that the price of magnesium ingots will continue to decline in the short term.