North American imported magnesium ingot prices stable
2023-03-31 10:47:34 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Given stable prices in China, the prevailing imported magnesium ingot prices in North America hovered at the present USD3,100-3,150/t CIF Canada, almost identical in the recent days and up by USD80/t from late last week. Most North American buyers watched the market and the related market witnessed limited buying activities. Insiders are of the opinion that the mainstream imported magnesium ingot prices in North America would show a soft trend discouraged by slow demand and potential softening price trend in China.
"The most competitive offer for magnesium ingot we received stood at the present USD3,150/t CIF Canada without any concessions, while I rejected to purchase for lack of deals," said a magnesium ingot importer in North America, adding that his supplier rejected to sell the metal below USD3,150/t in the recent days due to stable prices in China. He last purchased about 20t of the material at USD3,000/t one week ago to ship before middle of April as his supplier gambled his orders for weak demand. Taking slow demand and potential softening prices in China into consideration, he anticipates the mainstream imported prices in Canada would show a softening trend in the forthcoming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the metal in March and purchased a similar volume in February. He holds no stock now, the same as late last month. He imported about 3,600t of the metal in 2022 and predicts to purchase about 600t in Q1 of 2023.
"My supplier quoted USD3,120/t CIF Canada to me and refused to accept any counter bids from us, and they insisted on this offer since early this week," said a magnesium ingot importer in North America, noting that the price stayed beyond his client's acceptance. He last purchased about 20t two weeks ago at USD3,080/t and kept checking quotations in the recent days. Considering cautious purchase from foreign clients and softening price trend in China for lack of deals, he predicts the mainstream imported prices in North America would show a soft trend in the coming days.
The importer, with a regular monthly import volume of about 200t, predicts to buy about 120t of the metal in March and locked around 160t in February. He holds 10t of stocks now, the same as late last month. He imported about 600t of the metal in Q4 of 2022 and predicts to purchase about 400t in Q1 of 2023.
"The most competitive offer for magnesium ingot we received stood at the present USD3,150/t CIF Canada without any concessions, while I rejected to purchase for lack of deals," said a magnesium ingot importer in North America, adding that his supplier rejected to sell the metal below USD3,150/t in the recent days due to stable prices in China. He last purchased about 20t of the material at USD3,000/t one week ago to ship before middle of April as his supplier gambled his orders for weak demand. Taking slow demand and potential softening prices in China into consideration, he anticipates the mainstream imported prices in Canada would show a softening trend in the forthcoming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the metal in March and purchased a similar volume in February. He holds no stock now, the same as late last month. He imported about 3,600t of the metal in 2022 and predicts to purchase about 600t in Q1 of 2023.
"My supplier quoted USD3,120/t CIF Canada to me and refused to accept any counter bids from us, and they insisted on this offer since early this week," said a magnesium ingot importer in North America, noting that the price stayed beyond his client's acceptance. He last purchased about 20t two weeks ago at USD3,080/t and kept checking quotations in the recent days. Considering cautious purchase from foreign clients and softening price trend in China for lack of deals, he predicts the mainstream imported prices in North America would show a soft trend in the coming days.
The importer, with a regular monthly import volume of about 200t, predicts to buy about 120t of the metal in March and locked around 160t in February. He holds 10t of stocks now, the same as late last month. He imported about 600t of the metal in Q4 of 2022 and predicts to purchase about 400t in Q1 of 2023.
