Chinese buyers watch magnesium ingot market
2023-03-29 08:22:17 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Even though some plants began to move down output and some had intention to stop their production in late March, the mainstream prices rebounded and increased to the range of RMB20,200-20,500/t (USD2,927-2,971/t) EXW D/P this Monday and leveled off since then
"I failed to fight for any deals at the price of RMB20,300/t (USD2,942/t) EXW D/P today and just received two inquiries less than 60t," said a magnesium ingot producer, noting that he last sold about 62t of the metal this Monday at RMB20,300/t (USD2,942/t) and around 31t at RMB20,350/t (USD2,949/t). Considering watchful attitudes from buyers, he predicts Chinese magnesium ingot market movements would remain slack and the mainstream prices would remain weakly stable in the coming two days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,600t of magnesium ingot in March and produced a similar volume in February. He holds about 1,200t of stocks now, unchanged from late last month . He produced about 28,500t of the metal in 2022 and predicts to produce about 7,800t in Q1 of 2023.
"I quoted RMB20,200/t (USD2,927/t) EXW D/P for magnesium ingot to my clients, but they refused to purchase and prefer to watch the market," said a magnesium ingot producer in North China, adding that cold response from his clients today and more clients intend to watch the market. He last sold about 31t of the metal at RMB20,200/t (USD2,927/t) this Monday and failed to finalize any deals after that . Considering slow buying activities from buyers, he predicts the mainstream prices would stay weakly stable in the next two days.
The producer, with an annual production capacity of 20,000t, predicts to produce about 1,000t of magnesium ingot in March and produced zero ton in February. He holds no stock now, unchanged from late last month . He produced about 12,000t of the metal in 2022 and predicts to produce about 3,000t of the metal in Q1 of 2023.
. Discouraged by weakening demand from downstream plants, Chinese magnesium ingot market witnessed limited buying activities and more buyers prefer to watch the market . Insiders anticipate the prevailing Chinese magnesium ingot prices would level off in the forthcoming days.
"I failed to fight for any deals at the price of RMB20,300/t (USD2,942/t) EXW D/P today and just received two inquiries less than 60t," said a magnesium ingot producer, noting that he last sold about 62t of the metal this Monday at RMB20,300/t (USD2,942/t) and around 31t at RMB20,350/t (USD2,949/t). Considering watchful attitudes from buyers, he predicts Chinese magnesium ingot market movements would remain slack and the mainstream prices would remain weakly stable in the coming two days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,600t of magnesium ingot in March and produced a similar volume in February. He holds about 1,200t of stocks now, unchanged from late last month . He produced about 28,500t of the metal in 2022 and predicts to produce about 7,800t in Q1 of 2023.
"I quoted RMB20,200/t (USD2,927/t) EXW D/P for magnesium ingot to my clients, but they refused to purchase and prefer to watch the market," said a magnesium ingot producer in North China, adding that cold response from his clients today and more clients intend to watch the market. He last sold about 31t of the metal at RMB20,200/t (USD2,927/t) this Monday and failed to finalize any deals after that . Considering slow buying activities from buyers, he predicts the mainstream prices would stay weakly stable in the next two days.
The producer, with an annual production capacity of 20,000t, predicts to produce about 1,000t of magnesium ingot in March and produced zero ton in February. He holds no stock now, unchanged from late last month . He produced about 12,000t of the metal in 2022 and predicts to produce about 3,000t of the metal in Q1 of 2023.