Chinese magnesium powder prices edge down
2023-03-16 08:28:32 [Print]
BEIJING (Asian Metal) 16 Mar 23 - In view of limited buying activities from steel mills and chemical plants and softening upstream magnesium ingot market, Chinese magnesium powder market witnessed few deals over the past several days. The mainstream Chinese magnesium powder prices edged down to the range of RMB21,700-22,000/t (USD3,144-3,188/t) EXW D/P, down by RMB200/t (USD28/t) from this Monday. Insiders are of the opinion that the prevailing Chinese magnesium powder prices would edge down in the forthcoming days discouraged by weakening demand and softening raw material price.
"In view of softening upstream magnesium ingot prices, I lowered my offer for magnesium powder to the present RMB21,800/t (USD3,159/t) EXW D/P and could accept another RMB100/t (USD14/t) for price cuts, but my clients showed little interests in buying," said a magnesium powder producer in North China, claiming that he failed to finalize any deals within this week and just sold about 20t of the metal last Wednesday at RMB22,000/t (USD3,188/t). Discouraged by slow demand from steel mills and chemical plants, he predicts his output in March would only reach about 80t, while about 200t last March. Taking slack transactions and downward magnesium ingot prices into consideration, he anticipates the mainstream Chinese magnesium powder prices would move down further by RMB100/t (USD14/t) in the coming days.
With an annual production capacity of 8,000t, the producer predicts to produce about 80t of magnesium powder in March and produced a similar volume in February. He holds about 10t of stocks now, unchanged from late last month. He produced about 1,200t of the material in 2022 and predicts to produce about 260t in Q1 of 2023.
"In order to compete for deals, I decreased my offer for magnesium powder further to the present RMB21,700/t (USD3,144/t) EXW D/P without any concessions, but my clients rejected to purchase," said a magnesium powder producer in North China, noting that most buyers held wait-and-see attitudes towards the market trend and he even predicts the output in March only could reach about 600t, while about 1,100t at least YoY. He last sold about 30t of the metal early last week at RMB22,100/t (USD3,202/t) and kept updating quotations for his clients since then. In view of slow movements from buyers and rising intentions to promote sales from suppliers, he predicts the mainstream Chinese magnesium powder prices would move down further by RMB100/t (USD14/t) in the coming days.
The producer, with an annual production capacity 16,000t, predicts to produce about 600t of magnesium powder in March and produced about 800t in February. He holds about 30t of stocks now, while no stock late last month. He produced about 12,000t of the metal in 2022 and predicts to produce about 1,900t in Q1 of 2023.
"In view of softening upstream magnesium ingot prices, I lowered my offer for magnesium powder to the present RMB21,800/t (USD3,159/t) EXW D/P and could accept another RMB100/t (USD14/t) for price cuts, but my clients showed little interests in buying," said a magnesium powder producer in North China, claiming that he failed to finalize any deals within this week and just sold about 20t of the metal last Wednesday at RMB22,000/t (USD3,188/t). Discouraged by slow demand from steel mills and chemical plants, he predicts his output in March would only reach about 80t, while about 200t last March. Taking slack transactions and downward magnesium ingot prices into consideration, he anticipates the mainstream Chinese magnesium powder prices would move down further by RMB100/t (USD14/t) in the coming days.
With an annual production capacity of 8,000t, the producer predicts to produce about 80t of magnesium powder in March and produced a similar volume in February. He holds about 10t of stocks now, unchanged from late last month. He produced about 1,200t of the material in 2022 and predicts to produce about 260t in Q1 of 2023.
"In order to compete for deals, I decreased my offer for magnesium powder further to the present RMB21,700/t (USD3,144/t) EXW D/P without any concessions, but my clients rejected to purchase," said a magnesium powder producer in North China, noting that most buyers held wait-and-see attitudes towards the market trend and he even predicts the output in March only could reach about 600t, while about 1,100t at least YoY. He last sold about 30t of the metal early last week at RMB22,100/t (USD3,202/t) and kept updating quotations for his clients since then. In view of slow movements from buyers and rising intentions to promote sales from suppliers, he predicts the mainstream Chinese magnesium powder prices would move down further by RMB100/t (USD14/t) in the coming days.
The producer, with an annual production capacity 16,000t, predicts to produce about 600t of magnesium powder in March and produced about 800t in February. He holds about 30t of stocks now, while no stock late last month. He produced about 12,000t of the metal in 2022 and predicts to produce about 1,900t in Q1 of 2023.
