Traders across EMEA report firm magnesium market
2015-02-20 16:51:05 [Print]
LONDON (Asian Metal) 20 Feb 15 – Late this week traders across Northern Africa and the Middle East reported ongoing stability on the magnesium ingot market, noting a stability seen on price whilst activity levels are still rather quiet. The sources noted that 2015 had yet to really take off, with low levels of activity on the spot market noted in the early part of the year, with the traders agreeing that demand levels in the EMEA region, plus wider political and economic issues, have caused a quieter than expected magnesium market. The sources expected that the market could start to pick up over this quieter Chinese New Year period, but noted that demand levels from consumers would need to kick start the market.
Traders based in Northern Africa and Turkey this week reported prices holding firm on magnesium ingot, quoting mainstream prices at USD2,350-2,400/t in warehouse Rotterdam. The traders expected this price to increase over the end of the quarter as China returned to the market and Q2 demand was fulfilled.
A trader based in Egypt this week confirmed prices for magnesium ingot across the wider EMEA region held firm at USD2,350-2,400/t in warehouse Rotterdam, but conceded that the market hadn’t been as good as he had wished due to ongoing political turmoil in the region. The trader said “political unrest causes a lot of slow down and hesitation on the industrial markets, therefore 2015 has been quite poor so far”. The trader expected 2015 to have a stronger H2.
A second trader speaking from Turkey this week confirmed a steady purchasing price from European traders of magnesium ingot at USD2,350-2,400/t in warehouse Rotterdam. The trader explained that they had seen lower prices earlier in the year but they had since strengthened. The trader said “demand still seems rather limited or subdued, as I imagine large consumers are already covered for Q1”.
Traders based in Northern Africa and Turkey this week reported prices holding firm on magnesium ingot, quoting mainstream prices at USD2,350-2,400/t in warehouse Rotterdam. The traders expected this price to increase over the end of the quarter as China returned to the market and Q2 demand was fulfilled.
A trader based in Egypt this week confirmed prices for magnesium ingot across the wider EMEA region held firm at USD2,350-2,400/t in warehouse Rotterdam, but conceded that the market hadn’t been as good as he had wished due to ongoing political turmoil in the region. The trader said “political unrest causes a lot of slow down and hesitation on the industrial markets, therefore 2015 has been quite poor so far”. The trader expected 2015 to have a stronger H2.
A second trader speaking from Turkey this week confirmed a steady purchasing price from European traders of magnesium ingot at USD2,350-2,400/t in warehouse Rotterdam. The trader explained that they had seen lower prices earlier in the year but they had since strengthened. The trader said “demand still seems rather limited or subdued, as I imagine large consumers are already covered for Q1”.
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
