Magnesium market trend
According to the data of business agency, the average market price of magnesium ingot as of 31 days was 13783.33 yuan / ton, 14550 yuan / ton compared with the average market price at the beginning of the month, with a monthly decrease of 5.27%.
According to the tracking information of the business agency, on March 31, the main quotation range of magnesium ingots in fugu (99.9%) was 13500-13700 yuan / ton; that of magnesium ingots in Ningxia (99.9%) was 13650-13750 yuan / ton; that of magnesium ingots in Taiyuan (99.9%) was 13750-13850 yuan / ton; that of magnesium ingots in Wenxi (99.9%) was 13850-14000 yuan / ton.
Poor demand and worrying export
At present, domestic demand is gradually picking up in March, and the rate of commencement and resumption of work in the downstream is increasing day by day. At present, it is basically back to the level before the Spring Festival. However, in the context of the general decline of bulk commodities, traders and downstream users have a low willingness to store goods and just need to purchase in small quantities. In the middle and last ten days of February, due to traffic problems, the main production areas are overstocked in shipment, and there are many futures deliveries in March. The mainstream manufacturers have a strong demand for new orders, and they have lowered the high prices in the early stage, and the market is back to normal.
In March, the international market was greatly affected, East Asia, Europe and the United States were affected by the new crown epidemic, and the export of magnesium ingots weakened. It is reported that in 2019, a total of 452000 tons of various magnesium products will be exported, accounting for 46.6% of magnesium output. Export worries affect domestic market sentiment.
Expected market outlook
The downstream demand is weak. At present, the price of magnesium ingot is back to normal. It is expected that it will run stably in the near future, and pay attention to the change of downstream purchase rhythm in the later stage.