Chinese magnesium ingot prices stable
2024-03-27 08:31:48 [Print]
BEIJING (Asian Metal) 27 Mar 24 - As most suppliers rejected to accept price cuts from buyers and held stable offers in the recent days, the mainstream Chinese magnesium ingot prices stood at the present RMB17,600-17,900/t (USD2,444-2,486/t) EXW D/P, unchanged within this week. Downstream buyers purchased the metal as scheduled, and Chinese magnesium ingot market moved slowly. Insiders are of the opinion that the mainstream Chinese magnesium ingot prices would stay flat in the forthcoming days given cautious purchase from buyers and little intentions to accept any price cuts from suppliers.
"I sold 62t of magnesium ingot today at RMB17,700/t (USD2,458/t) EXW D/P and tried to reach a deal of 31t at RMB17,800/t (USD2,472/t), but failed," said a magnesium ingot producer in North China, adding that he last sold about 62t this Monday at RMB17,700/t (USD2,458/t) as well. As some plants intend to advance their equipment maintenance in late March and also reject to offer, the market supply channel tightened and prices remained firm. He forecasts that the mainstream Chinese magnesium ingot prices would remain flat in the forthcoming days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,800t in March and produced a similar volume last month. He holds around 2,100t of stocks now, and about 2,000t late last month. He produced about 32,000t of the metal in 2023 and predicts to produce about 8,600t in Q1 of 2024.
"I closed a deal of 31t for magnesium ingot today at RMB17,700/t (USD2,458/t) EXW D/P," said a magnesium ingot producer in North China, adding that he sold around 31t of the metal this Monday at RMB17,700/t (USD2,458/t) steadily. Taking stable purchase from buyers and little intentions to accept price cuts from suppliers into consideration, he anticipates that the mainstream prices would stay flat in the coming days.
The supplier, with an annual production capacity of 20,000t, predicts to produce about 200t of the metal in March and produced zero ton in February. He holds 500t of stocks now, unchanged from late last month. He produced about 2,800t of the metal in Q4 of 2023 and predicts to produce about 1,200t in Q1 of 2024.
"I sold 62t of magnesium ingot today at RMB17,700/t (USD2,458/t) EXW D/P and tried to reach a deal of 31t at RMB17,800/t (USD2,472/t), but failed," said a magnesium ingot producer in North China, adding that he last sold about 62t this Monday at RMB17,700/t (USD2,458/t) as well. As some plants intend to advance their equipment maintenance in late March and also reject to offer, the market supply channel tightened and prices remained firm. He forecasts that the mainstream Chinese magnesium ingot prices would remain flat in the forthcoming days.
With an annual production capacity of 35,000t, the producer predicts to produce about 2,800t in March and produced a similar volume last month. He holds around 2,100t of stocks now, and about 2,000t late last month. He produced about 32,000t of the metal in 2023 and predicts to produce about 8,600t in Q1 of 2024.
"I closed a deal of 31t for magnesium ingot today at RMB17,700/t (USD2,458/t) EXW D/P," said a magnesium ingot producer in North China, adding that he sold around 31t of the metal this Monday at RMB17,700/t (USD2,458/t) steadily. Taking stable purchase from buyers and little intentions to accept price cuts from suppliers into consideration, he anticipates that the mainstream prices would stay flat in the coming days.
The supplier, with an annual production capacity of 20,000t, predicts to produce about 200t of the metal in March and produced zero ton in February. He holds 500t of stocks now, unchanged from late last month. He produced about 2,800t of the metal in Q4 of 2023 and predicts to produce about 1,200t in Q1 of 2024.
