European imported magnesium ingot prices up
2023-04-14 12:31:47 [Print]
BEIJING (Asian Metal) 14 Apr 23 - Taking price surge in China into consideration, the mainstream imported prices in Europe increased to the current USD4,100-4,200/t CIF Rotterdam, almost an increase of 900/t from late last month. As the prices increased sharply and also stayed beyond many foreign clients' acceptance, more of them began to watch the market and European magnesium ingot market witnessed sporadic movements. Considering strong intentions to lift offers from Chinese suppliers caused by rumor for suspension of iron stove in Fugu County, insiders are of the opinion that the mainstream imported magnesium ingot prices in Europe would go up further in the coming days.
"Due to price surge in Chinese market, the most competitive magnesium ingot we received increased to the present USD4,200/t CIF Rotterdam without any concessions, which stayed beyond my clients' acceptance and I prefer to watch the market for a while," said a magnesium ingot importer in Europe, noting that he confronted the crisis on the delivery. They locked about 1,000t of magnesium ingot two weeks ago with the average price of USD2,900/t, while they confronted the crisis on the delivery due to big price gap. He noted that almost several suppliers complained the price surge and about 400t of the material would be delayed. Considering strong intentions to lift offers with the potential strive policy for iron stove, he forecast the mainstream imported magnesium ingot prices in Europe would go up further by USD100/t in the coming days and he prefers to focus on hand to mouth order.
With a regular monthly import volume of around 2,000t, the importer predicts to purchase about 1,600t in April and locked about 1,900t in March. He holds about 800t of stocks now, unchanged from late last month. He imported about 22,000t of the metal in 2022 and locked about 5,300t in Q1 of 2023.
"My supplier updated his quotation for magnesium ingot at USD4,200/t CIF Rotterdam from Chinese supplier and USD4,400/t D.D.P from local supplier without any concessions," said a magnesium ingot importer in Europe, adding that he locked 75t of the material at USD4,050/t D.D.P and another 50t at USD4,000/t in local market this Tuesday. He noted that the most competitive offer reached about USD3,300/t late last week and he didn't purchase for coming holiday and missed that price. Taking rising intentions to lift offers into consideration, he forecasts the mainstream prices in Europe would move up by another USD200/t in the coming days and he intends to lock the metal from local market for immediate delivery.
The consumer, with an annual consumption volume of around 8,000t, predicts to consume about 500t of magnesium ingot in April and locked a similar volume in March. He holds about 200t of stocks, down by 30% from late last month. He purchased about 6,000t of the metal in 2022 and locked about 1,600t in Q1 of 2023.
"Due to price surge in Chinese market, the most competitive magnesium ingot we received increased to the present USD4,200/t CIF Rotterdam without any concessions, which stayed beyond my clients' acceptance and I prefer to watch the market for a while," said a magnesium ingot importer in Europe, noting that he confronted the crisis on the delivery. They locked about 1,000t of magnesium ingot two weeks ago with the average price of USD2,900/t, while they confronted the crisis on the delivery due to big price gap. He noted that almost several suppliers complained the price surge and about 400t of the material would be delayed. Considering strong intentions to lift offers with the potential strive policy for iron stove, he forecast the mainstream imported magnesium ingot prices in Europe would go up further by USD100/t in the coming days and he prefers to focus on hand to mouth order.
With a regular monthly import volume of around 2,000t, the importer predicts to purchase about 1,600t in April and locked about 1,900t in March. He holds about 800t of stocks now, unchanged from late last month. He imported about 22,000t of the metal in 2022 and locked about 5,300t in Q1 of 2023.
"My supplier updated his quotation for magnesium ingot at USD4,200/t CIF Rotterdam from Chinese supplier and USD4,400/t D.D.P from local supplier without any concessions," said a magnesium ingot importer in Europe, adding that he locked 75t of the material at USD4,050/t D.D.P and another 50t at USD4,000/t in local market this Tuesday. He noted that the most competitive offer reached about USD3,300/t late last week and he didn't purchase for coming holiday and missed that price. Taking rising intentions to lift offers into consideration, he forecasts the mainstream prices in Europe would move up by another USD200/t in the coming days and he intends to lock the metal from local market for immediate delivery.
The consumer, with an annual consumption volume of around 8,000t, predicts to consume about 500t of magnesium ingot in April and locked a similar volume in March. He holds about 200t of stocks, down by 30% from late last month. He purchased about 6,000t of the metal in 2022 and locked about 1,600t in Q1 of 2023.
