Price trend of metallic magnesium

Market analysis this week

According to the monitoring data of the business club, as of the 24th, the average price in the domestic market was 36166.67 yuan / ton, down 6.47% compared with that at the beginning of the week. The transaction price of magnesium ingots was concentrated at 37000-38000 yuan / ton. This week, the price of magnesium ingots reversed sharply. At the beginning of the week, the price of magnesium fell rapidly, and the market was under obvious pressure. On Wednesday, it began to stop falling and rebound. The news of the purchase and storage of Yu magnesium boosted the willingness of the magnesium plant to stabilize the market. The magnesium plant merchants also actively shipped cash according to their own factory inventory, If there is a lack of stock, the quotation will not be made temporarily.

Export side

According to the statistics of China’s customs, China exported 51300 tons of various metal magnesium products in January, an increase of 26.1% month on month and 21.3% year on year; From January to March, China exported 128900 tons of various magnesium products, an increase of 9.6% over the same period last year. The overall export volume of metal magnesium products in the first quarter showed an increasing trend month by month. Part of the export growth in the first quarter was caused by the delivery of overseas orders years ago.

Factory aspect

According to the news of Yulin magnesium collection and storage on Wednesday, the magnesium factory merchants took advantage of the situation to adjust the price. Although there were few high price transactions, the magnesium factory had little capital pressure and strong willingness to stabilize the price. The market transaction price was gradually picking up, and some magnesium factories did not make a quotation temporarily in view of the inventory situation and the current market situation.

Supply and demand

At present, the confidence of the market supply side has recovered. Although the demand side is still limited, many departments of the state guarantee transportation and major materials, which can alleviate the poor transportation situation to a certain extent. At the same time, in the psychology of buying up rather than buying down, downstream customers who waited and waited in the early stage entered the market for procurement, some rigid demand was released, and near the May Day holiday, downstream customers began to prepare goods in advance.

Future forecast

On the whole, after the impact of the news of collection and storage in the market in the middle of the week, the magnesium price first decreased and then increased this week, but there are few high price transactions. At the same time, considering that the logistics and transportation are still in the slow recovery, the downstream demand is still weak, the driving force for the sharp rise of magnesium ingots in the short term is insufficient, and the current market quotation performance is relatively chaotic, and some magnesium factories do not ship temporarily. In the short term, it is expected that the magnesium market will maintain a strong trend.