Price of magnesium alloy gliding down further

BEIJING (Asian Metal) 28 May 13 – Early this week witnesses another price reduction by RMB50/t (USD8/t) ex works to RMB18,000-18,200/t (USD2,912-2,944/t) ex works in magnesium alloy in line with the downward price trend of magnesium ingot.Asian Metal Copyright A Shanxi magnesium alloy smelter with an output of average 1,100tpm admits having lowered the price by another RMB50t USD8t ex works to RMB18,000t USD2,912t ex works in view of the ceaseless price declines in magnesium ingot since mid-April.Asian Metal Copyright Undoubtedly the timely quotation markdown invites an increasingly exquisite wait-and-see attitude of downstream rather than inspiring orders of consumers.

A Shanxi magnesium alloy smelter with an output of average 1,100tpm admits having lowered the price by another RMB50/t (USD8/t) ex works to RMB18,000/t (USD2,912/t) ex works in view of the ceaseless price declines in magnesium ingot since mid-April. “Ingot’s been getting cheap since over month ago, and I wonder when it may stop,” remarked the source, adding that magnesium alloy utilisers shall keep watching the market if the price fails to slide down in consistency.Asian Metal Copyright According to the source, RMB16,100-16,500t USD2,605-2,669t ex works has been supplanting RMB16,200-16,600t USD2,621-2,685t ex works in the local material market since last Friday saw a further price decline by RMB100t USD16t ex works in Shaanxi magnesium ingot.Asian Metal Copyright Yet the pleasing quotation reduction in his circle would invoke a more strongly watching mood of the other party, the source pointed.

However, he cannot but follow the example of magnesium ingot providers in order to meet consumers’ requirement. “Ingot’s RMB15,700/t (USD2,540/t) ex works and even cheaper now,” said he, speculating that upstream suppliers are bound to suffer from a dingy business at this moment.Asian Metal Copyright “I draw the line at RMB16,200t USD2,621t ex works for ingot, so offer RMB18,200t USD2,944t ex works for alloy at this moment, RMB2,000t USD324t ex works dearer than ingot,” explained she, denying that consumers have grown more active in purchasing since the ubiquitous price slide in alloy from RMB18,900-19,100t USD3,058-3,090t ex works over one month ago.Asian Metal Copyright Likewise, his business is carrying on no better in magnesium alloy with his sales volume declining from 1,800tpm from last Q4.

His local counterpart with an output of 2,000tpm revealed that she reduces her quotation by RMB50/t (USD8/t) ex works in the light of the constant price falls in the material too. “I’ve to cut down mine so long as Shaanxi ingot smelters bring down their offers,” told she, as a magnesium ingot and alloy producer at the same time. According to the source, RMB16,100-16,500/t (USD2,605-2,669/t) ex works has been supplanting RMB16,200-16,600/t (USD2,621-2,685/t) ex works in the local material market since last Friday saw a further price decline by RMB100/t (USD16/t) ex works in Shaanxi magnesium ingot.

“I draw the line at RMB16,200/t (USD2,621/t) ex works for ingot, so offer RMB18,200/t (USD2,944/t) ex works for alloy at this moment, RMB2,000/t (USD324/t) ex works dearer than ingot,” explained she, denying that consumers have grown more active in purchasing since the ubiquitous price slide in alloy from RMB18,900-19,100/t (USD3,058-3,090/t) ex works over one month ago. “I’m still delivering the goods ordered before since I’ve not made any new deal yet,” confided she, denying that consumers prove zealous in enquiring either.
.Asian Metal Copyright However, he cannot but follow the example of magnesium ingot providers in order to meet consumers’ requirementAsian Metal Copyright