In April 2024, the center of gravity of the ex factory cash price including tax for magnesium ingots (99.9%, non acid washed, simple packaging) in major domestic production areas shifted upwards, with an overall range of 17900-18800 yuan/ton, with actual orders mainly negotiated.
The specific price range for each region on the 28th is as follows:
The ex factory tax inclusive spot exchange in Fugu area is 18300-18400 yuan/ton; The current exchange rate in Taiyuan area is 18400-18500 yuan/ton; The current exchange rate in Wenxi area is 18500-18600 yuan/ton; The current exchange rate in Ningxia is 18300-18400 yuan/ton.
Magnesium ingots are native magnesium ingots in accordance with the national standard (GB/T3499-2011); Non acid washing, no wooden pallets, and non payment acceptance price, actual order negotiation is the main focus.
Overview of the trend of metallic magnesium in April
According to data from Business Society, the average domestic market price on the 28th was 18666.67 yuan/ton, an increase of 3.70% compared to the average market price of 18000 yuan/ton in early April (4.1); Compared to the beginning of the year (1.1), the average market price was 20600 yuan/ton, a decrease of 9.39%.
The magnesium ingot market in March showed a rise followed by a decline for three consecutive weeks, with a similar operating process. Due to the low overall inventory pressure in the factory, coupled with a slight increase in raw material prices, the cost has been supported and the quotation has increased. However, downstream demand is relatively weak. In order to promote transactions, the manufacturer has offered narrow discounts for shipment.
In terms of supply and demand
At the beginning of the month, orders were relatively weak, and as the Qingming Festival approached, the market entered a calm and wait-and-see state, while factory inventory remained at a high level. The operational pressure on factories remains in the middle and later stages, with supply and demand falling into a stalemate. Market demand has not significantly improved, and high price transactions are weak. Downstream customers mainly digest previous inventory and observe market trends, while manufacturers have a strong sentiment of price support due to cost support.
In terms of exports, according to Chinese customs statistics, China exported a total of 125500 tons of various magnesium products from January to March, a year-on-year increase of 21.26%; Accumulated to approximately 385 million US dollars, a year-on-year decrease of 4.92%. Among them, a total of 74400 tons of magnesium ingots were exported, a year-on-year increase of 38.55%; Magnesium alloy exports totaled 26300 tons, a year-on-year decrease of 9.93%; A total of 21200 tons of magnesium powder were exported, a year-on-year increase of 26.79%.
Ferrosilicon increased by 3.71% in April
In April, the silicon iron futures market fluctuated upwards, and the domestic silicon iron operating rate remained low with little change. The inventory of enterprises was not high, and some production orders were mainly scheduled. The bidding situation has been introduced, and there is a good expectation of an increase in demand or inventory in the future. It is expected that the silicon iron price may be stronger in the future. The news of the price increase of raw material blue charcoal has once again spread, and the second round of price increases has begun. The cost side has certain support, which limits the space for manufacturers to lower prices.
Future Market Forecast
The raw material market for ferrosilicon is gradually rising, and the cost support for magnesium ingots is strengthening. Manufacturers have shown a positive attitude towards prices. However, demand still lacks sustained upward momentum, and it is expected that the domestic magnesium metal market will remain stable in the short term.
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