Magnesium ingot market in 22th week of 2024

May 28, 2024

Latest company news about Magnesium ingot market in 22th week of 2024

Returning on Monday, the prices quoted by factories in the main production area remained relatively stable, basically unchanged from Friday's market. According to feedback, the market transaction situation on the weekend was average, and some factories in certain regions slightly reduced prices to ship. However, in recent days, there has been a slight increase in raw material coal prices, and some factories have a willingness to support prices, with prices stabilizing at 18500-18600 yuan/ton. On the demand side, downstream customers have been mainly in a wait-and-see attitude recently, and the acceptance of high prices has become difficult. At the beginning of the week, there is also a mutual probing mentality between the supply and demand sides. Although production enterprises have a good mentality supported by the cost side, due to the average follow-up of actual transactions, there is still resistance for magnesium ingot prices to continue to rise.
Overall, the current supply and demand side of the magnesium metal market is somewhat deadlocked, with downstream customers having a strong wait-and-see atmosphere. On the other hand, factories are supported by costs and their quotations are relatively stable. It is expected that the magnesium market will continue to maintain a stable trend this week. We will observe the follow-up of market transactions and changes in the raw material market.