On August 30, 2023, the cash and tax inclusive prices of magnesium ingots (99.9%, non pickling, simple packaging) from various main production areas in China have been running smoothly, with an overall range of 22500 to 22800 yuan/ton. Real order negotiations are the main focus.
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The specific price ranges for each region are as follows:
Ex-factory spot exchange including tax in Fugu area is 22500-22600 yuan/ton; Current exchange in Taiyuan area is 22600-22700 yuan/ton; The spot exchange in Wenxi area is 22700-22800 yuan/ton; The current exchange in Ningxia is 22500-22600 yuan/ton.
Magnesium ingots are native magnesium ingots according to the national standard (GB/T3499-2011); Non acid washed, non wooden pallets and non paid acceptance price, with actual order negotiation as the main approach.
Overview of the trend of metal magnesium in August
In August, the magnesium ingot market was relatively strong, with an increase of 7.24%. Follow up on downstream demand in August, with active inquiries for overseas orders. The factory has low inventory and insufficient production in the main production area, resulting in magnesium factories quoting too high.
In terms of factories, they have a strong mentality of being reluctant to sell at a high price. At present, there is no inventory pressure in the factory, and the resumption of production by manufacturers in the Fugu area is uncertain. With the support of downstream procurement, the magnesium factory’s quotation is mainly stable.
In terms of demand, as the summer break abroad is coming to an end, foreign trade demand has followed up, and some domestic orders that are just needed have also followed up one after another. However, the demand support is insufficient, and in the face of recent fluctuations in the market for magnesium ingots, the main focus is still on wait-and-see sentiment. Especially at the end of the month, the fear of high sentiment among downstream customers has become more prominent, making it increasingly difficult for magnesium factories to ship at high prices.
In terms of raw materials, in August, the cost pressure on blue charcoal enterprises continued, and the bottom support strengthened. The enterprise began to continue its previous loss state, coupled with the decrease in the price of medium temperature coal tar, and the blue charcoal market was relatively strong. Starting from the 28th, the coal mines in Yuyang District, Yulin City were ordered to suspend production for rectification, and coal mine safety supervision became stricter. Some coal mines will reduce or suspend production, and coal supply may contract. It is expected that there will be slight fluctuations in the price of blue charcoal in the short term.
In August, the ferrosilicon market was first strong and then weak. On August 30th, the market quotation for ferrosilicon (grade: FeSi75-B; particle size grade/mm: natural block) in Ningxia was around 6750-6800 yuan/ton, with an average market price of 6778 yuan/ton, a monthly increase of 0.11%. The short-term supply of ferrosilicon is difficult to improve, but with cost support, the price of ferrosilicon remains stable.
Future Market Forecast
Overall, given the uncertainty of the current resumption of production time for magnesium factories, each factory maintains low inventory, and manufacturers have strong prices. However, the follow-up of downstream transactions is insufficient, and the market lacks positive factors to support it. It is expected that the short-term price of magnesium ingots will be weak and stable, and the market transaction situation will be closely monitored in the future.
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