Market analysis for this week
This week, the magnesium ingot market was initially strong and then stable. Recently, the non-ferrous metal sector has shown strong performance, driving up magnesium prices. After the Qingming Festival, the magnesium ingot market rebounded and rose, with an increase of 300-500 yuan/ton. Magnesium ingot prices have also returned to above the 18000 yuan/ton mark. The main reason is an increase in market transactions, with slightly more active inquiries and purchases compared to before. Steel mills have a stronger willingness to raise prices, coupled with a slight rebound in raw material prices, supporting the rise in magnesium prices. However, with the rapid rise in prices, downstream acceptance was insufficient, and the supply and demand sides once again became deadlocked in the later part of the week, leading to a consolidation of magnesium prices. According to the Commodity Market Analysis System of Business Society, as of April 12th, the average price of magnesium ingots in the domestic market was 18466.67 yuan/ton, with a week on week increase of 0.91%.
In terms of supply and demand
The factory side has a strong sentiment of price support, considering that some manufacturers have stopped production for maintenance in the early stage, the market supply has decreased, and inventory pressure has decreased. This week, after the end of the holiday, some companies delivered orders to purchase magnesium ingots, and downstream aluminum processing prices continued to rise, which has a boosting effect on magnesium prices. But most downstream users have limited acceptance of high prices, and high priced transactions in the market are rare.
In terms of raw materials
The market quotation for ferrosilicon in Ningxia this week is between 6100-6350 yuan/ton. The demand for ferrosilicon at the retail end has improved, and confidence in the industry has increased this week. Some factories have slightly increased their prices, indicating that ferrosilicon has some resistance to decline in the short term. It is expected that ferrosilicon prices will fluctuate strongly next week.
This week, the national blue charcoal market operated steadily with a strong bias, and the overall inventory in the market dropped to a medium low level. Coupled with the rise in raw material prices, enterprise quotations were firm. As of April 12, the mainstream prices of small and medium-sized materials in the Shenmu market were 740-900 yuan/ton, and the coke surface was 580-650 yuan/ton; The mainstream price of small and medium-sized materials in the Fugu market is 720-900 yuan/ton, and the coke surface is 620-700 yuan/ton.
Future Market Forecast
Overall, the current magnesium ingot market has seen an increase in trading volume, a decrease in production release from magnesium factories, and an increase in raw material prices, which has strengthened support for magnesium ingots. Magnesium prices still have an upward trend. However, the sustainability of downstream demand is insufficient. As prices rise, actual transactions slow down, and the sustained rise in magnesium prices is weak. It is expected that magnesium prices will remain stable, moderate, and strong in the short term, with limited upward momentum.
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