Magnesium ingot market on April 7

According to market feedback, during the Qingming holiday, the atmosphere in the magnesium ingot market was light, with few transactions and shipments. Some traders had previously hoarded goods, but recently the phenomenon of selling at low prices has become prominent, with prices ranging from 16300-16500 yuan/ton including tax in spot exchange, exacerbating the downward pressure on market prices. From the perspective of supply and demand, on the supply side: under the current market situation, the mentality of various factories has diverged, and some manufacturers believe that the situation is not optimistic and choose to flexibly negotiate and ship according to the market; Some factories have also stated that their inventory is low and they have chosen not to ship temporarily, waiting for the market to turn around. On the demand side: Downstream customers are influenced by the mentality of "buying up, not buying down", and only purchase on demand. The downward trend is cautious, and the market follow-up speed is slow. In summary, after the rise in magnesium prices before the holiday, market transactions were poor and lacked price support. Coupled with recent low-priced shipments by traders, magnesium prices in the market were under pressure and weakened on Monday. Whether the subsequent market prices can stabilize depends on the actual follow-up of downstream transactions. It is expected that the magnesium market will operate in a stable and moderate consolidation trend at the current price this week.