European imported magnesium ingot prices decrease
2023-03-03 10:20:57 [Print]
BEIJING (Asian Metal) 3 Mar 23 - Considering decreasing magnesium ingot prices in domestic market and slack movements in Europe, the mainstream imported magnesium ingot prices in Europe decreased to the present USD3,100-3,130/t CIF Rotterdam, down by USD100/t from late last week. In order to promote sales, some suppliers could accept more price cuts from buyers. Insiders are of the opinion that the prevailing imported magnesium ingot prices would move down further restricted by limited buying activities in the forthcoming days.
"In view of decreasing prices in Chinese market, the most competitive offer we received decreased to the current USD3,100/t CIF Rotterdam and my supplier could accept USD50/t for price cuts to ship before late March," said a magnesium ingot importer in Europe, adding that he rejected to purchase for lack of deals and continuous downward prices in Chinese market. He planned to lock about 50t of the metal late last week at USD3,100/t, but his supplier refused to sell below USD3,180/t and he lost the order at last. He last purchased about 50t of the metal in the first half of February at USD3,250/t and kept holding a cautious attitude towards the market trend. Taking slow movements in Europe and downward prices in China into consideration, he predicts the mainstream imported prices in Europe would edge down by USD30/t in the coming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the metal in March and purchased about 260t of the material in February. He holds no stock now, unchanged from late last month. He imported about 3,600t of the metal in 2022 and predicts to purchase about 820t in Q1 of 2023.
"My supplier quoted USD3,100/t CIF Rotterdam and could accept USD3,080/t for a firm bid, while I refused to purchase for enough stocks and little confidence in the trend," said a magnesium ingot importer in Europe, adding that he kept watching the market in the recent one week and just purchased 50t early last week at USD3,130/t. Given slack movements in Europe and rising intentions to promote sales from Chinese suppliers, he forecasts the mainstream imported prices in Europe would move down by USD20/t in the next few days.
The importer, with a regular monthly purchase volume of about 400t, predicts to buy around 380t of the material in March and locked a similar volume in February. He holds 100t of stocks now, while about 150t late last month. He imported about 4,600t of the metal in 2022 and predicts to purchase about 1,100t in Q1 of 2023.
"In view of decreasing prices in Chinese market, the most competitive offer we received decreased to the current USD3,100/t CIF Rotterdam and my supplier could accept USD50/t for price cuts to ship before late March," said a magnesium ingot importer in Europe, adding that he rejected to purchase for lack of deals and continuous downward prices in Chinese market. He planned to lock about 50t of the metal late last week at USD3,100/t, but his supplier refused to sell below USD3,180/t and he lost the order at last. He last purchased about 50t of the metal in the first half of February at USD3,250/t and kept holding a cautious attitude towards the market trend. Taking slow movements in Europe and downward prices in China into consideration, he predicts the mainstream imported prices in Europe would edge down by USD30/t in the coming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the metal in March and purchased about 260t of the material in February. He holds no stock now, unchanged from late last month. He imported about 3,600t of the metal in 2022 and predicts to purchase about 820t in Q1 of 2023.
"My supplier quoted USD3,100/t CIF Rotterdam and could accept USD3,080/t for a firm bid, while I refused to purchase for enough stocks and little confidence in the trend," said a magnesium ingot importer in Europe, adding that he kept watching the market in the recent one week and just purchased 50t early last week at USD3,130/t. Given slack movements in Europe and rising intentions to promote sales from Chinese suppliers, he forecasts the mainstream imported prices in Europe would move down by USD20/t in the next few days.
The importer, with a regular monthly purchase volume of about 400t, predicts to buy around 380t of the material in March and locked a similar volume in February. He holds 100t of stocks now, while about 150t late last month. He imported about 4,600t of the metal in 2022 and predicts to purchase about 1,100t in Q1 of 2023.
