Chinese magnesium ingot 99.95%min market sees slow movements
2023-03-10 08:31:13 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Restricted by slow demand from downstream titanium sponge plants, Chinese magnesium ingot 99.95%min market witnessed rare deals in the recent days. The prevailing prices for magnesium ingot 99.95%min stood at the range of RMB21,500-21,800/t (USD3,115-3,159/t) EXW D/P, almost identical in the recent two days but down by RMB300/t (USD43/t) from early this week. Insiders are of the opinion that the mainstream Chinese magnesium ingot 99.95%min would stay weakly stable in the next two days discouraged by slack movements.
"I just experienced a very slack market movements in the recent days and my clients showed little interests in buying the material at RMB21,800/t (USD3,159/t) EXW D/P and even didn't ask for price cuts with us," said a magnesium ingot 99.95%min producer in North China, adding that he could accept RMB21,500/t (USD3,115/t) for a concession with any firm orders more than 30t. He last sold about 31t of the metal early this week at RMB21,700/t (USD3,144/t) for 99.95%min and only sold another 62t of the metal for 99.9%min at RMB20,500/t (USD2,971/t). Given weakening demand from downstream titanium sponge and rising stocks from suppliers, he forecasts the mainstream Chinese magnesium ingot 99.95%min prices would stay weakly stable on the whole. He would accept price cuts from buyers to promote sales and decrease stocks.
The producer, with an annual production capacity of 35,000t, predicts to produce about 2,800t of magnesium ingot in March and produced a similar volume in February. He holds about 1,800t of stocks now, while about 1,300t late last month. He produced about 32,500t of the metal in 2022 and predicts to produce about 8,600t in Q1 of 2023.
"I quoted RMB21,800/t (USD3,159/t) EXW D/P for magnesium ingot 99.95%min to my client and could accept RMB21,700/t (USD3,144/t) for a firm bid, but my client rejected to purchase," said a magnesium ingot 99.95%min producer in North China, claiming that Chinese magnesium ingot 99.95%min market moved slowly with few deals closed. He just sold about around 100t late last week at RMB22,000/t (USD3,188/t) and didn't receive any deals since then. Taking limited buying activities from buyers into consideration, he predicts the demand for magnesium ingot 99.95%min couldn't pick up and prices would stay weakly stable on the whole in the coming days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,900t in March and produced around 2,800t in February. He holds about 3,800t of stocks presently, up by 900t from late last month. He predicts to produce about 9,200t in Q1 of 2023 and produced about 33,500t in 2022.
"I just experienced a very slack market movements in the recent days and my clients showed little interests in buying the material at RMB21,800/t (USD3,159/t) EXW D/P and even didn't ask for price cuts with us," said a magnesium ingot 99.95%min producer in North China, adding that he could accept RMB21,500/t (USD3,115/t) for a concession with any firm orders more than 30t. He last sold about 31t of the metal early this week at RMB21,700/t (USD3,144/t) for 99.95%min and only sold another 62t of the metal for 99.9%min at RMB20,500/t (USD2,971/t). Given weakening demand from downstream titanium sponge and rising stocks from suppliers, he forecasts the mainstream Chinese magnesium ingot 99.95%min prices would stay weakly stable on the whole. He would accept price cuts from buyers to promote sales and decrease stocks.
The producer, with an annual production capacity of 35,000t, predicts to produce about 2,800t of magnesium ingot in March and produced a similar volume in February. He holds about 1,800t of stocks now, while about 1,300t late last month. He produced about 32,500t of the metal in 2022 and predicts to produce about 8,600t in Q1 of 2023.
"I quoted RMB21,800/t (USD3,159/t) EXW D/P for magnesium ingot 99.95%min to my client and could accept RMB21,700/t (USD3,144/t) for a firm bid, but my client rejected to purchase," said a magnesium ingot 99.95%min producer in North China, claiming that Chinese magnesium ingot 99.95%min market moved slowly with few deals closed. He just sold about around 100t late last week at RMB22,000/t (USD3,188/t) and didn't receive any deals since then. Taking limited buying activities from buyers into consideration, he predicts the demand for magnesium ingot 99.95%min couldn't pick up and prices would stay weakly stable on the whole in the coming days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,900t in March and produced around 2,800t in February. He holds about 3,800t of stocks presently, up by 900t from late last month. He predicts to produce about 9,200t in Q1 of 2023 and produced about 33,500t in 2022.
