Chinese dead burned magnesia market quiet
2023-03-28 08:15:03 [Print]
BEIJING (Asian Metal) 28 Mar 23 - The Chinese dead burned magnesia market saw weak demand during the past week. Even though, most Chinese dead burned magnesia suppliers prefer to reduce their production rather than lower prices. Therefore, the current mainstream prices of Chinese dead burned magnesia 90%min 3-15mm stand at RMB1,150-1,200/t (USD167-175/t) EXW D/A 180 days, in line with last week ago. Insiders predict that the mainstream prices of Chinese dead burned magnesia would remain stable in the following supported by production cost.
A producer in Liaoning disclosed, "We suspended production from the middle of this month and we would consider resuming production when the inventories halved". They offered about RMB1,200/t (USD175/t) EXW D/A 180 days for dead burned magnesia 90%min 3-15mm with a concession of RMB50/t (USD7/t) today but failed to close any deal due to no inquiry. While they could consider accepting the price as low as RMB1,150/t (USD167/t) and sold about 100t on last Thursday when their clients wanted to a concession of RMB 20/t (USD2.9/t), adding that many of local produces had large inventories due to weak demand and they predicted that the mainstream prices of Chinese dead burned magnesia would keep unmoved in the coming week driven by great pressure of production cost.
The producer, with an annual production capacity of 172,800t of dead burned magnesia, produced nearly 4,000t in March, on par with last month. Now, they have an inventory of approximately 10,000t.
"We halted production since early this year due to the sluggish deals from the downstream clients and we offered around RMB1,150/t (USD167/t) EXW D/P for dead burned magnesia 90%min 3-15mm and refused any lower price today but didn't conclude any deal due to no inquiry," another Liaoning-based producer stated. They last sold about 200t at RMB1,150/t (USD167/t) without any bargaining last Wednesday. The producer held a negative to the market discouraged by few deals. However, they believed that the mainstream prices of Chinese dead burned magnesia would stabilize in the coming week supported by production cost.
Based on the production capacity of 72,000tpy, they suspended production and with no output in March, in line with last month. They held approximately 2,000t of stocks now, down by 1,000t from the same period of last month.
A producer in Liaoning disclosed, "We suspended production from the middle of this month and we would consider resuming production when the inventories halved". They offered about RMB1,200/t (USD175/t) EXW D/A 180 days for dead burned magnesia 90%min 3-15mm with a concession of RMB50/t (USD7/t) today but failed to close any deal due to no inquiry. While they could consider accepting the price as low as RMB1,150/t (USD167/t) and sold about 100t on last Thursday when their clients wanted to a concession of RMB 20/t (USD2.9/t), adding that many of local produces had large inventories due to weak demand and they predicted that the mainstream prices of Chinese dead burned magnesia would keep unmoved in the coming week driven by great pressure of production cost.
The producer, with an annual production capacity of 172,800t of dead burned magnesia, produced nearly 4,000t in March, on par with last month. Now, they have an inventory of approximately 10,000t.
"We halted production since early this year due to the sluggish deals from the downstream clients and we offered around RMB1,150/t (USD167/t) EXW D/P for dead burned magnesia 90%min 3-15mm and refused any lower price today but didn't conclude any deal due to no inquiry," another Liaoning-based producer stated. They last sold about 200t at RMB1,150/t (USD167/t) without any bargaining last Wednesday. The producer held a negative to the market discouraged by few deals. However, they believed that the mainstream prices of Chinese dead burned magnesia would stabilize in the coming week supported by production cost.
Based on the production capacity of 72,000tpy, they suspended production and with no output in March, in line with last month. They held approximately 2,000t of stocks now, down by 1,000t from the same period of last month.
