Chinese magnesium ingot export prices down
2023-04-24 08:35:08 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Considering decreasing magnesium ingot prices in domestic market and watchful attitudes from foreign clients, Chinese magnesium ingot export market witnessed limited buying activities over the past several days. The prevailing Chinese magnesium ingot export prices moved down to the present USD3,400-3,500/t FOB China and USD3,300-3,400/t Ex-VAT FOB China respectively, down by USD500/t from early this week. Insiders are of the opinion that the prevailing Chinese magnesium ingot export prices would go down further in the forthcoming days due to watchful attitudes from foreign clients.
"Taking downward domestic price into consideration, I decreased my export price for magnesium ingot to the present USD3,300/t Ex-VAT FOB China without any concessions, while my client rejected to purchase with an expectation of further price decrease," said a magnesium ingot exporter in North China, claiming that his clients' reaction disappointed him. Considering downward prices and continuous slow demand in the foreign market, more buyers began to watch the market and the spot market saw scarce deals. He last sold about 20t of the metal early this week at USD3,500/t and kept updating quotations since then. In view of slow demand in the foreign market and rising intentions to compete for deals from exporters, he predicts the mainstream export prices for magnesium ingot would decrease further by USD100/t in the coming days.
The exporter, with a regular monthly export volume of about 1,500t, predicts to export about 1,100t in April and sold about 1,200t in March. He holds no stock now, unchanged from late last month. He exported about 17,500t of the metal in 2022 and around 3,200t in Q1 of 2023.
"I failed to fight for any deals in the recent days, my clients showed little interests in buying magnesium ingot at the price of USD3,350/t Ex-VAT FOB China and even had no interests in buying at USD3,300/t," said a magnesium ingot exporter in North China, noting that he last sold about 20t of the metal this Monday to guarantee a client's urgent demand and kept quoting since then. Considering watchful attitudes from foreign clients and rising intentions to promotes sales from exporters, he forecasts the mainstream export prices would move down USD100/t in the coming days.
With a regular monthly export volume of around 500t, the exporter expects to export around 400t in April and sold around 420t in March. He holds no inventory presently, almost identical to late last month. He exported about 6,000t of magnesium ingot in 2022 and sold about 1,200t in Q1 of 2023.
"Taking downward domestic price into consideration, I decreased my export price for magnesium ingot to the present USD3,300/t Ex-VAT FOB China without any concessions, while my client rejected to purchase with an expectation of further price decrease," said a magnesium ingot exporter in North China, claiming that his clients' reaction disappointed him. Considering downward prices and continuous slow demand in the foreign market, more buyers began to watch the market and the spot market saw scarce deals. He last sold about 20t of the metal early this week at USD3,500/t and kept updating quotations since then. In view of slow demand in the foreign market and rising intentions to compete for deals from exporters, he predicts the mainstream export prices for magnesium ingot would decrease further by USD100/t in the coming days.
The exporter, with a regular monthly export volume of about 1,500t, predicts to export about 1,100t in April and sold about 1,200t in March. He holds no stock now, unchanged from late last month. He exported about 17,500t of the metal in 2022 and around 3,200t in Q1 of 2023.
"I failed to fight for any deals in the recent days, my clients showed little interests in buying magnesium ingot at the price of USD3,350/t Ex-VAT FOB China and even had no interests in buying at USD3,300/t," said a magnesium ingot exporter in North China, noting that he last sold about 20t of the metal this Monday to guarantee a client's urgent demand and kept quoting since then. Considering watchful attitudes from foreign clients and rising intentions to promotes sales from exporters, he forecasts the mainstream export prices would move down USD100/t in the coming days.
With a regular monthly export volume of around 500t, the exporter expects to export around 400t in April and sold around 420t in March. He holds no inventory presently, almost identical to late last month. He exported about 6,000t of magnesium ingot in 2022 and sold about 1,200t in Q1 of 2023.
