Following a slight loosening of magnesium ingot prices at the end of May, magnesium ingot prices continued to decline in mid-to-late June. According to the data of business association, the average market price of standard magnesium ingots (Mg9990, specification: 7.5 kg (+0.5 kg/block) on June 13 was 16433.335 yuan/ton, which was 2.38% lower than the average market price of magnesium ingots on June 1, 16833.33 yuan/ton, and 0.20% higher than the lowest price of 16400 yuan/ton (January 9) in 2019.

Today’s main production areas are manufactured with tariff (99.9%, no pickling, simple packaging) as follows:

Fugu area ex-factory includes 16100-16400 yuan/ton of tax, Taiyuan area 16400-16500 yuan/ton of cash, Wenxi area 16500-16600 yuan/ton of cash and Ningxia area 16200-16300 yuan/ton of cash.

Today, the market price of magnesium ingots has been fine-tuned downwards. Some small factories have strong demand for returned goods. The price of magnesium ingots has been lowered slightly in order to speed up delivery. The price of mainstream factories in the main factories has begun to stabilize.

Magnesium ingot prices declined in the first half of June, mainly due to poor downstream procurement demand and reduced market turnover of magnesium ingots. Magnesium ingot Market is depressed, low-price supply in the market increases, and in turn upstream and TRADERS’wait-and-see sentiment rises. At present, the relationship between supply and demand is an important factor in the lower price of magnesium ingots. Most of the market purchases on demand, but only on demand.

Future expectation

At present, the magnesium market is in a light trading situation, and the market participants’wait-and-see mentality is aggravated. It is expected that the domestic magnesium ingot prices will remain weak and stable in the short term.