Magnesium alloy market continually seeing quiet activities
2012-06-18 09:11:56 [Print]
BEIJING (Asian Metal) 18 Jun 12 – Nowadays continues seeing tediously slow transactions in the magnesium alloy market even though no news spreads of a quote increase. Staying at RMB19,200-19,400/t (USD3,043-3,075/t) ex works, it keeps stranding in the store house by reason of the traditionally poor appetite at home and relentless demand listlessness overseas.
A Shanxi magnesium alloy smelter with an output of 6,000tpm shared with Asian Metal that he determines to hold his position of quote steadiness despite the price rise in magnesium ingot. “No need to lift the price since I’ve not procured any material for long,” explained the smelter, continuing that foreign demand languor proves to be the most important reason for the price stability of magnesium alloy in most producing areas.
The source, who has been offering RMB19,200-19,400/t (USD3,043-3,075/t) ex works since early May, confided that a majority of his counterparts show no intention to raise the quote. “I’ve run up against a sales difficulty since the price went up over RMB19,000/t (USD3,011/t) ex works,” recalled the source, who deemed the unpopularity of price with downstream consumers to be a primary cause of downstream frigidity.
A Jiangsu magnesium alloy consumer with a monthly consumption of 50t agreed that the price curve keeps horizontal. He, who once dreaded a price increase ensuing that in Shaanxi magnesium ingot, finds that magnesium alloy remains RMB19,200-19,300/t (USD3,043-3,075/t) ex works this week.
“Word goes around that magnesium alloy sells rather hard abroad these days,” revealed the source, speculating that the price stability lies in providers’ anxiety about a successive accumulation of spot goods. He claimed that his suppliers would like to dispose of immense goods at the present price. “I haven’t bought any since late May,” recalled the consumer, who still enjoys sufficient stored materials after a payment for 30t. From his perspective, the market will move on tardily with thin transactions consummated under the overwhelming impact of the slack global economy.
A Shanxi magnesium alloy smelter with an output of 6,000tpm shared with Asian Metal that he determines to hold his position of quote steadiness despite the price rise in magnesium ingot. “No need to lift the price since I’ve not procured any material for long,” explained the smelter, continuing that foreign demand languor proves to be the most important reason for the price stability of magnesium alloy in most producing areas.
The source, who has been offering RMB19,200-19,400/t (USD3,043-3,075/t) ex works since early May, confided that a majority of his counterparts show no intention to raise the quote. “I’ve run up against a sales difficulty since the price went up over RMB19,000/t (USD3,011/t) ex works,” recalled the source, who deemed the unpopularity of price with downstream consumers to be a primary cause of downstream frigidity.
A Jiangsu magnesium alloy consumer with a monthly consumption of 50t agreed that the price curve keeps horizontal. He, who once dreaded a price increase ensuing that in Shaanxi magnesium ingot, finds that magnesium alloy remains RMB19,200-19,300/t (USD3,043-3,075/t) ex works this week.
“Word goes around that magnesium alloy sells rather hard abroad these days,” revealed the source, speculating that the price stability lies in providers’ anxiety about a successive accumulation of spot goods. He claimed that his suppliers would like to dispose of immense goods at the present price. “I haven’t bought any since late May,” recalled the consumer, who still enjoys sufficient stored materials after a payment for 30t. From his perspective, the market will move on tardily with thin transactions consummated under the overwhelming impact of the slack global economy.
Magnesium Alloy AM60B FOB China
Unit:USD/mt
China magnesium alloy producers' number MoM output increase statistics by month
Unit: pcs
