Indian imported magnesium ingot prices edge down
2023-04-28 10:47:06 [Print]
BEIJING (Asian Metal) 28 Apr 23 - Considering decreasing prices in China and cautious purchase from Indian buyers, Indian magnesium ingot market witnessed limited buying activities over the past several days. The imported prices in India edged down to the range of USD3,250-3,300/t CIF NS, down by USD200/t from early this week. Insiders are of the opinion that the prevailing imported prices would drop slightly in the forthcoming days given continuous limited buying activities.
"In view of decreasing prices in China, the most competitive quotation for magnesium ingot we received decreased to the present USD3,250/t CIF NS, while I prefer to watch for a while for lack of new deals," said a magnesium ingot importer in India, noting that he last locked about 40t of the material at USD3,400/t this Tuesday and kept watching since then. Given rising intentions to promote sales from suppliers and cautious purchase from buyers, he forecasts the mainstream imported prices would edge down by another USD50/t in the coming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the material in April and locked a similar volume in March. He holds about 20t of stocks now, unchanged from late last month. He imported about 3,600t in 2022 and locked about 600t in Q1 of 2023.
"Given decreasing prices in Chinese market, my supplier lowered his offer for magnesium ingot to the current USD3,250/t CIF NS and even could accept USD3,230/t for a firm bid with any orders more than 20t," said a magnesium ingot importer in India, noting that he won't lock the material before receiving any firm deals. He last locked about 40t of the metal this Monday at USD3,200/t and intends to postpone his next purchase to early May. Considering softening prices in China and limited buying activities among buyers, he anticipates the mainstream imported prices in India would edge down by USD30/t in the forthcoming two days.
The importer, with a regular monthly import volume of about 400t, predicts to purchase around 300t in April and locked around 360t in March. He holds no stock now, unchanged from late last month. He imported about 4,600t of the material in 2022 and locked about 900t in Q1 of 2023.
"In view of decreasing prices in China, the most competitive quotation for magnesium ingot we received decreased to the present USD3,250/t CIF NS, while I prefer to watch for a while for lack of new deals," said a magnesium ingot importer in India, noting that he last locked about 40t of the material at USD3,400/t this Tuesday and kept watching since then. Given rising intentions to promote sales from suppliers and cautious purchase from buyers, he forecasts the mainstream imported prices would edge down by another USD50/t in the coming days.
With a regular monthly import volume of around 300t, the importer predicts to purchase about 200t of the material in April and locked a similar volume in March. He holds about 20t of stocks now, unchanged from late last month. He imported about 3,600t in 2022 and locked about 600t in Q1 of 2023.
"Given decreasing prices in Chinese market, my supplier lowered his offer for magnesium ingot to the current USD3,250/t CIF NS and even could accept USD3,230/t for a firm bid with any orders more than 20t," said a magnesium ingot importer in India, noting that he won't lock the material before receiving any firm deals. He last locked about 40t of the metal this Monday at USD3,200/t and intends to postpone his next purchase to early May. Considering softening prices in China and limited buying activities among buyers, he anticipates the mainstream imported prices in India would edge down by USD30/t in the forthcoming two days.
The importer, with a regular monthly import volume of about 400t, predicts to purchase around 300t in April and locked around 360t in March. He holds no stock now, unchanged from late last month. He imported about 4,600t of the material in 2022 and locked about 900t in Q1 of 2023.
