Monthly Magnesia Market Report Dec 2020
2021-01-10 23:59:41 【Print】
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After over 90% of the producers in Dashiqiao suspended production in November, about 90% of the producers of other areas of Liaoning halted production in December due to the further strengthened environmental inspection, leading to a panic of the downstream buyers. Therefore, prices of Chinese magnesia increased sharply this month. However, with more and more consumers finished refilling stocks, the demand started to weaken in mid December. On the other hand, traders with plenty of stocks started to sell in the third week. The prices of Chinese magnesia started to flatten out.
Due to the increased prices of Chinese magnesia and high ocean freight, more and more overseas buyers chose to purchase from other countries or just watch the market and the export market saw few deals. However, supported by the raised domestic prices, the export prices moved up accordingly.
Due to the increased prices of Chinese magnesia and high ocean freight, more and more overseas buyers chose to purchase from other countries or just watch the market and the export market saw few deals. However, supported by the raised domestic prices, the export prices moved up accordingly.
