Chinese buyers purchase magnesium ingot for immediate use
2016-09-23 08:45:08 [Print]
BEIJING (Asian Metal) 23 Sep 16 - On account of the light stocks and freight charge rising, the prevailing magnesium ingot prices kept firm at RMB14,900-15,000/t (USD2,240-2,255/t) ex works in Shaanxi and RMB15,000-15,200/t (USD2,255-2,285/t) ex works in Shanxi, unchanged against those of early this week, and the downstream buyers purchased the material from hand-to-mouth to guarantee their basic requirements. Insiders are of the opinion that the prices are likely to hold stable in the forthcoming days and Chinese buyers are willing to place orders for immediate use continually.
“I received quotations at around RMB15,100/t (USD2,270/t) ex works with low Si and Al in Shaanxi, the same with those of several days ago, and I only purchased 80 tons of the material to guarantee my basic needs,” said a magnesium ingot consumer in North China, who noted that the material is enough for him to consume before the National Holiday. He plans to buy another 62 tons next week to ensure the consumption volume during the holiday and thinks the prices will stay at RMB15,100/t (USD2,270/t) ex works at that time.
With a regular monthly consumption volume of around 500 tons, the magnesium ingot consumer claimed that they used 400 tons in August and looks to increase the volume to 500 tons in September, holding 50 tons of stocks on hand now.
“I quoted RMB14,900/t (USD2,240/t) ex works to my regular buyer, totally unchanged against that of last week, and I sold 62 tons successfully this Wednesday,” said a magnesium ingot producer in Shaanxi, holding 80 tons of stocks on hand now. He believes that the market transactions are hard to pick up in the remainder of this week and the regular buyers will start to build stocks next week for the coming National Holiday.
The producer, whose annual production capacity of magnesium ingot is 20,000 tons, produced 1,200 tons of the material in August and looks to keep the stable volume in September.
“I received quotations at around RMB15,100/t (USD2,270/t) ex works with low Si and Al in Shaanxi, the same with those of several days ago, and I only purchased 80 tons of the material to guarantee my basic needs,” said a magnesium ingot consumer in North China, who noted that the material is enough for him to consume before the National Holiday. He plans to buy another 62 tons next week to ensure the consumption volume during the holiday and thinks the prices will stay at RMB15,100/t (USD2,270/t) ex works at that time.
With a regular monthly consumption volume of around 500 tons, the magnesium ingot consumer claimed that they used 400 tons in August and looks to increase the volume to 500 tons in September, holding 50 tons of stocks on hand now.
“I quoted RMB14,900/t (USD2,240/t) ex works to my regular buyer, totally unchanged against that of last week, and I sold 62 tons successfully this Wednesday,” said a magnesium ingot producer in Shaanxi, holding 80 tons of stocks on hand now. He believes that the market transactions are hard to pick up in the remainder of this week and the regular buyers will start to build stocks next week for the coming National Holiday.
The producer, whose annual production capacity of magnesium ingot is 20,000 tons, produced 1,200 tons of the material in August and looks to keep the stable volume in September.
Magnesium Ingot 99.9%min In warehouse Rotterdam
Unit:USD/mt
China's magnesium ingot producers' sales volume statistics by province by month
Unit: mt
