Chinese magnesium alloy market sees limited buying activities
2023-03-09 08:31:06 [Print]
BEIJING (Asian Metal) 9 Mar 23 - Restricted by slow demand from downstream 3C and die casting plants, Chinese magnesium alloy market witnessed limited buying activities in the recent days. In view of weakly stable upstream magnesium ingot prices, the mainstream Chinese magnesium alloy prices hovered at the range of RMB22,600-22,900/t (USD3,275-3,318/t) EXW D/P, almost identical in the recent two days
"To my disappointment, I failed to fight for any deals today at RMB22,600/t (USD3,275/t) EXW D/P and my client even rejected to ask for price cuts with us," said a magnesium alloy producer in North China, noting that he sold about 20t of the metal this Tuesday at RMB22,600/t (USD3,275/t) and the total sales volume only reached about 100t within this week. Given slack movements from downstream die casting and 3C plats, he predicts his output in coming March would only reach about 700t, while about 1,000t MoM . Taking slow demand from downstream die casting and 3C plants into consideration, he predicts Chinese magnesium alloy market would move slowly and the mainstream prices would stay weakly stable for a while. In order to compete for deals, he would consider accepting RMB100/t (USD14/t) for price cuts to promote sales with any firm deals more than 30t in the next two days.
The producer, with an annual production capacity of 15,000t, predicts to produce about 700t of the metal in March and produced a similar volume in February. He holds around 100t of stocks now, the same as late last month . He produced about 8,600t of the metal in 2022 and predicts to produce about 2,100t in Q1 of 2023.
"I just sold about 30t of magnesium alloy today at RMB22,700/t (USD3,289/t) and tried to compete for another deal for around 62t, but failed," said a magnesium alloy producer in North China, noting that he sold about 30t of the metal this Tuesday at RMB22,700/t (USD3,289/t) as well. Chinese magnesium alloy market just experienced a very slack state in the recent days . Two of his regular clients moved down their output by 70% and also decreased their purchase volume for magnesium alloy sharply . He predicts to move down the volume in March to 5,500t, while about 6,500t YoY . Considering slow demand from downstream die casting and 3C plants, he thinks Chinese magnesium alloy market couldn't pick up and prices would stay weakly stable in the coming days.
With an annual production capacity of 75,000t, the producer predicts to produce about 5,500t in March and produced around 5,800t in February. He holds about 800t of stocks presently, almost identical to late last month . He produced about 65,000t in 2022 and predicts to produce about 18,000t in Q1 of 2023.
. Insiders are of the opinion that the mainstream Chinese magnesium alloy prices would remain weakly stable in the forthcoming days and most buyers prefer to lock the material in minimum volume discouraged by weakening demand.
"To my disappointment, I failed to fight for any deals today at RMB22,600/t (USD3,275/t) EXW D/P and my client even rejected to ask for price cuts with us," said a magnesium alloy producer in North China, noting that he sold about 20t of the metal this Tuesday at RMB22,600/t (USD3,275/t) and the total sales volume only reached about 100t within this week. Given slack movements from downstream die casting and 3C plats, he predicts his output in coming March would only reach about 700t, while about 1,000t MoM . Taking slow demand from downstream die casting and 3C plants into consideration, he predicts Chinese magnesium alloy market would move slowly and the mainstream prices would stay weakly stable for a while. In order to compete for deals, he would consider accepting RMB100/t (USD14/t) for price cuts to promote sales with any firm deals more than 30t in the next two days.
The producer, with an annual production capacity of 15,000t, predicts to produce about 700t of the metal in March and produced a similar volume in February. He holds around 100t of stocks now, the same as late last month . He produced about 8,600t of the metal in 2022 and predicts to produce about 2,100t in Q1 of 2023.
"I just sold about 30t of magnesium alloy today at RMB22,700/t (USD3,289/t) and tried to compete for another deal for around 62t, but failed," said a magnesium alloy producer in North China, noting that he sold about 30t of the metal this Tuesday at RMB22,700/t (USD3,289/t) as well. Chinese magnesium alloy market just experienced a very slack state in the recent days . Two of his regular clients moved down their output by 70% and also decreased their purchase volume for magnesium alloy sharply . He predicts to move down the volume in March to 5,500t, while about 6,500t YoY . Considering slow demand from downstream die casting and 3C plants, he thinks Chinese magnesium alloy market couldn't pick up and prices would stay weakly stable in the coming days.
With an annual production capacity of 75,000t, the producer predicts to produce about 5,500t in March and produced around 5,800t in February. He holds about 800t of stocks presently, almost identical to late last month . He produced about 65,000t in 2022 and predicts to produce about 18,000t in Q1 of 2023.