Japanese imported magnesium ingot prices down
2023-03-06 08:17:01 [Print]
BEIJING (Asian Metal) 6 Mar 23 - Taking decreasing magnesium ingot prices in China into consideration, the prevailing imported magnesium ingot prices in Japan went down to the range of USD3,060-3,090/t CIF Japan, down by USD100/t from late last week
"Given decreasing prices in Chinese market and strong intentions to compete for deals from suppliers, the most competitive offer for magnesium ingot we received decreased to the present USD3,080/t CIF Japan and could accept USD3,060/t for a firm bid," said a magnesium ingot importer in Japan, adding that he rejected to purchase for lack of deals. He last locked about 100t of the metal in the second half of February at USD3,250/t and stopped purchasing since then. Due to weakening demand and rising price competition among suppliers, he predicts the mainstream imported prices for magnesium ingot in Japan would go down further by USD30/t in the forthcoming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of magnesium ingot in March and locked a similar volume 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 800t in Q1 of 2023.
"We tried to fight for an order of 50t to ship in early April at the price of USD3,060/t CIF Japan, but failed as my peer even quoted USD3,000/t to them," said a magnesium ingot importer in Japan, adding that they just experienced a quiet state and market competition also stayed fierce. He last locked about 20t of the metal last Thursday at USD3,120/t to finalize an urgent order from a regular client and kept checking offers since then. Given heavy stocks from Chinese suppliers and rising intentions to promote sales, he predicts the mainstream imported magnesium ingot prices in Japan would move down further by USD30/t in the coming days in view of downward prices in China.
The importer, with a regular monthly import volume of about 200t, predicts to purchase about 180t in March and locked a similar volume in February. He holds no stock now, almost identical to late last month . He imported about 2,400t of the metal in 2022 and predicts to buy about 600t in Q1 of 2023.
. Discouraged by slow demand, Japanese magnesium ingot market witnessed slack movements . Insiders are of the opinion that the prevailing imported prices in Japan would move down further in the forthcoming days restricted by continuous slack transactions and potential downward prices in Chinese market.
"Given decreasing prices in Chinese market and strong intentions to compete for deals from suppliers, the most competitive offer for magnesium ingot we received decreased to the present USD3,080/t CIF Japan and could accept USD3,060/t for a firm bid," said a magnesium ingot importer in Japan, adding that he rejected to purchase for lack of deals. He last locked about 100t of the metal in the second half of February at USD3,250/t and stopped purchasing since then. Due to weakening demand and rising price competition among suppliers, he predicts the mainstream imported prices for magnesium ingot in Japan would go down further by USD30/t in the forthcoming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of magnesium ingot in March and locked a similar volume 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 800t in Q1 of 2023.
"We tried to fight for an order of 50t to ship in early April at the price of USD3,060/t CIF Japan, but failed as my peer even quoted USD3,000/t to them," said a magnesium ingot importer in Japan, adding that they just experienced a quiet state and market competition also stayed fierce. He last locked about 20t of the metal last Thursday at USD3,120/t to finalize an urgent order from a regular client and kept checking offers since then. Given heavy stocks from Chinese suppliers and rising intentions to promote sales, he predicts the mainstream imported magnesium ingot prices in Japan would move down further by USD30/t in the coming days in view of downward prices in China.
The importer, with a regular monthly import volume of about 200t, predicts to purchase about 180t in March and locked a similar volume in February. He holds no stock now, almost identical to late last month . He imported about 2,400t of the metal in 2022 and predicts to buy about 600t in Q1 of 2023.