Price of magnesium alloy showing further climb
2012-07-27 08:53:56 [Print]
BEIJING (Asian Metal) 27 Jul 12 – With the price of magnesium ingot standing firm, the price of magnesium alloy shows a further increase by RMB100/t (USD16/t) ex works belatedly to RMB20,000-20,200/t (USD3,156-3,187/t) ex works today. Yet magnesium alloy smelters suspect the market of following the example of its magnesium ingot counterpart with no transactions consummated.
A Shanxi magnesium alloy producer with an output of 6,000tpm conveyed her apprehension about any smooth transaction in the market after the quotation elevation. “I’ve heard from my clients no more since I bid RMB19,800-20,000/t (USD3,124-3,156/t) ex works,” disclosed the producer, continuing that the quotation rise this time originates from the price growth in magnesium ingot.
“Many peers have lifted their offer because the material grows more expensive than before,” explained he, who denied having returned to the market for more magnesium ingot since his procurement last time. With adequate material on hand which he purchased at RMB17,600/t (USD2,777/t) ex works, he shows no intention to retain more with his belief that the strong price will glide down next month. Besides, his reluctance consists in his unsatisfactory business impeded by rather slow sales of magnesium alloy.
A South-based smelter, who yields average 500t of magnesium alloy every month, was negative about the prevalence of the novel price after a rise by RMB100/t (USD16/t) ex works either. “Now alloy takes buyers RMB20,000-20,200/t (USD3,156-3,187/t) ex works, but I can hardly hear anyone goes for it,” confided the smelter, emphasising that the mounting price of magnesium alloy can merely widen the gap between suppliers and procurers.
“I’ve quitted bringing out magnesium alloy as it’s gainless,” commented the smelter, who pays more attention to the aluminum market with his substantial supply of aluminum alloy. He interpreted the cause of magnesium alloy abandonment that the magnesium market is heading downhill on the whole with the downstream demand continuously shrinking. “Lots of peers grumble about the difficult sales since few buyers can keep track of the price growth,” pointed the smelter, stressing that the only outlet proves to be a moderate price popular among consumers of a finite appetite.
A Shanxi magnesium alloy producer with an output of 6,000tpm conveyed her apprehension about any smooth transaction in the market after the quotation elevation. “I’ve heard from my clients no more since I bid RMB19,800-20,000/t (USD3,124-3,156/t) ex works,” disclosed the producer, continuing that the quotation rise this time originates from the price growth in magnesium ingot.
“Many peers have lifted their offer because the material grows more expensive than before,” explained he, who denied having returned to the market for more magnesium ingot since his procurement last time. With adequate material on hand which he purchased at RMB17,600/t (USD2,777/t) ex works, he shows no intention to retain more with his belief that the strong price will glide down next month. Besides, his reluctance consists in his unsatisfactory business impeded by rather slow sales of magnesium alloy.
A South-based smelter, who yields average 500t of magnesium alloy every month, was negative about the prevalence of the novel price after a rise by RMB100/t (USD16/t) ex works either. “Now alloy takes buyers RMB20,000-20,200/t (USD3,156-3,187/t) ex works, but I can hardly hear anyone goes for it,” confided the smelter, emphasising that the mounting price of magnesium alloy can merely widen the gap between suppliers and procurers.
“I’ve quitted bringing out magnesium alloy as it’s gainless,” commented the smelter, who pays more attention to the aluminum market with his substantial supply of aluminum alloy. He interpreted the cause of magnesium alloy abandonment that the magnesium market is heading downhill on the whole with the downstream demand continuously shrinking. “Lots of peers grumble about the difficult sales since few buyers can keep track of the price growth,” pointed the smelter, stressing that the only outlet proves to be a moderate price popular among consumers of a finite appetite.
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' sales volume statistics by month
Unit: mt
