Chinese magnesium powder market sees slow movements
2023-03-22 08:21:19 [Print]
BEIJING (Asian Metal) 22 Mar 23 - Taking weakening demand from downstream steel mills and chemical plants and pessimistic attitudes among buyers into consideration, Chinese magnesium powder market kept seeing scarce deals in the recent days. Meanwhile, due to softening upstream magnesium ingot prices, the mainstream Chinese magnesium powder prices hovered at the present RMB21,500-21,800/t (USD3,115-3,159/t) EXW D/P, down by RMB100/t (USD14/t) from late last week. Insiders are of the opinion that the mainstream Chinese magnesium powder prices would stay soft restricted by slow demand and strong intentions to compete for deals from suppliers.
"In view of softening magnesium ingot prices, I quoted RMB21,500/t (USD3,115/t) EXW D/P for magnesium powder and could accept RMB100/t (USD14/t) for counter bid, but my client rejected to purchase for lack of deals," said a magnesium powder producer in North China, adding that he kept experiencing a harsh and quiet market state in the recent one week. He last sold about 30t of the metal late last week at RMB21,600/t (USD3,130/t) and failed to fight for any deals since then. Considering downward magnesium ingot prices and continuous slow demand from downstream steel mills, he forecasts the mainstream Chinese magnesium powder prices would edge down by another RMB100/t (USD14/t) in the next two days.
With an annual production capacity of 15,000t, the producer predicts to produce around 600t in March and produced about 800t in February. He holds around 60t of stocks now, up by half from late last month. He produced about 11,000t of the metal in 2022 and predicts to produce about 1,900t of the metal in Q1 of 2023.
"I failed to conclude any deals for magnesium powder at RMB21,600/t (USD3,130/t) EXW D/P and my client even rejected to ask for price cuts," said a magnesium powder producer in North China, noting that he could accept RMB21,500/t (USD3,115/t) with any firm orders more than 20t. He last sold about 20t of the metal at RMB21,700/t late last month. Restricted by slow demand, he predicts his output in March would only reach about 500t, while about 650t in February. Considering softening upstream magnesium ingot prices and slack transactions among steel mills, he anticipates the prevailing Chinese magnesium powder prices would go down by another RMB100/t (USD14/t) in the coming days.
The producer, with an annual production capacity of 11,000t, predicts to produce about 500t of magnesium powder in March and produced about 650t in February. He holds no stock now, almost identical to late last month. He produced about 8,200t of the metal in 2022 and predicts to produce about 1,800t of the metal in Q1 of 2023.
"In view of softening magnesium ingot prices, I quoted RMB21,500/t (USD3,115/t) EXW D/P for magnesium powder and could accept RMB100/t (USD14/t) for counter bid, but my client rejected to purchase for lack of deals," said a magnesium powder producer in North China, adding that he kept experiencing a harsh and quiet market state in the recent one week. He last sold about 30t of the metal late last week at RMB21,600/t (USD3,130/t) and failed to fight for any deals since then. Considering downward magnesium ingot prices and continuous slow demand from downstream steel mills, he forecasts the mainstream Chinese magnesium powder prices would edge down by another RMB100/t (USD14/t) in the next two days.
With an annual production capacity of 15,000t, the producer predicts to produce around 600t in March and produced about 800t in February. He holds around 60t of stocks now, up by half from late last month. He produced about 11,000t of the metal in 2022 and predicts to produce about 1,900t of the metal in Q1 of 2023.
"I failed to conclude any deals for magnesium powder at RMB21,600/t (USD3,130/t) EXW D/P and my client even rejected to ask for price cuts," said a magnesium powder producer in North China, noting that he could accept RMB21,500/t (USD3,115/t) with any firm orders more than 20t. He last sold about 20t of the metal at RMB21,700/t late last month. Restricted by slow demand, he predicts his output in March would only reach about 500t, while about 650t in February. Considering softening upstream magnesium ingot prices and slack transactions among steel mills, he anticipates the prevailing Chinese magnesium powder prices would go down by another RMB100/t (USD14/t) in the coming days.
The producer, with an annual production capacity of 11,000t, predicts to produce about 500t of magnesium powder in March and produced about 650t in February. He holds no stock now, almost identical to late last month. He produced about 8,200t of the metal in 2022 and predicts to produce about 1,800t of the metal in Q1 of 2023.
