Chinese H-Ca fused magnesia market saw soft demand
2023-03-30 07:48:33 [Print]
BEIJING (Asian Metal) 30 Mar 23 - As the downstream clients purchased inactively, the market witnessed soft demand during the past two weeks. The current mainstream prices of Chinese fused magnesia 97%min 0-30mm (Ca:Si=2:1; B.D 3.45min) stand at RMB3,300-3,500/t (USD480-509/t) EXW D/A 180 days, unchanged from last week. As most producers held their prices firmed supported by production cost, insiders predict that the mainstream prices of Chinese H-Ca fused magnesia would remain stable in the coming week.
"We called our clients this morning but all of them had no intention to replenish stocks at this moment. We decreased the output in March due to weak demand," a producer in Liaoning reported. They could consider accepting the price as low as RMB3,500/t (USD509/t) EXW D/P for fused magnesia 97%min 0-30mm (Ca:Si=2:1；B.D 3.48min) during the past week and sold about 100t at such price on Monday. While they didn't close any deal due to no inquiry these two days. Although the market kept inactive during the past week, they predict that the mainstream prices of Chinese H-Ca fused magnesia would remain unchanged in the coming week supported by production cost.
Based on a production capacity of 80,000tpy, they produced about 1,500t this month, down by 500t from last month. They hold around 1,000t of stocks now.
Another Liaoning-based producer claimed, "The market faced weak demand during the past half a month. We had to hold a low operation rate to prevent inventories from increasing further". They kept the offer for fused magnesia 97%min 0-30mm (Ca:Si=2:1) stable at RMB3,400/t (USD495/t) EXW D/P and refused any lower price during the past week and sold about 100t at such price this morning, which was the only deal this week. They added that they had no intention to decline their prices supported by production cost and predicted that the mainstream prices of Chinese H-Ca fused magnesia might keep stable in the coming week.
With a production capacity of 80,000tpy, they produced about 1,000t in March, identical to last month, holding an inventory of 2,000t currently.
"We called our clients this morning but all of them had no intention to replenish stocks at this moment. We decreased the output in March due to weak demand," a producer in Liaoning reported. They could consider accepting the price as low as RMB3,500/t (USD509/t) EXW D/P for fused magnesia 97%min 0-30mm (Ca:Si=2:1；B.D 3.48min) during the past week and sold about 100t at such price on Monday. While they didn't close any deal due to no inquiry these two days. Although the market kept inactive during the past week, they predict that the mainstream prices of Chinese H-Ca fused magnesia would remain unchanged in the coming week supported by production cost.
Based on a production capacity of 80,000tpy, they produced about 1,500t this month, down by 500t from last month. They hold around 1,000t of stocks now.
Another Liaoning-based producer claimed, "The market faced weak demand during the past half a month. We had to hold a low operation rate to prevent inventories from increasing further". They kept the offer for fused magnesia 97%min 0-30mm (Ca:Si=2:1) stable at RMB3,400/t (USD495/t) EXW D/P and refused any lower price during the past week and sold about 100t at such price this morning, which was the only deal this week. They added that they had no intention to decline their prices supported by production cost and predicted that the mainstream prices of Chinese H-Ca fused magnesia might keep stable in the coming week.
With a production capacity of 80,000tpy, they produced about 1,000t in March, identical to last month, holding an inventory of 2,000t currently.
