Monthly Magnesia Market Report Feb 2020
2020-03-13 18:16:27 【Print】
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As the Spring Festival holiday just ended and the Covid-19 spread quickly in China, Liaoning-based magnesia producers delayed resuming production for two weeks in February compared with previous years and successively resumed production from mid-February. Furthermore, logistics in Liaoning started recovering in mid-February and basically didn't become convenient until the end of February. In addition, the demand for magnesia from downstream consumers, most of whom delayed resuming production, recovered slowly. Because of above factors, prices of most specifications of magnesia declined in China in February except low grade caustic calcined magnesia and dead burned magnesia prices which stabilized during the month.
European and American customers held sufficient magnesia stocks in February and thus placed limited orders of Chinese magnesia. Meanwhile, Japanese and South Korean customers held insufficient stocks and took the lead to refill stocks from China although the overall demand was limited. Thus, export prices of most specifications of Chinese magnesia declined in February following the downward price trend in the domestic market except caustic calcined magnesia and dead burned magnesia prices.
European and American customers held sufficient magnesia stocks in February and thus placed limited orders of Chinese magnesia. Meanwhile, Japanese and South Korean customers held insufficient stocks and took the lead to refill stocks from China although the overall demand was limited. Thus, export prices of most specifications of Chinese magnesia declined in February following the downward price trend in the domestic market except caustic calcined magnesia and dead burned magnesia prices.
