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Magnesium Ingot market in 3th week of 2024

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Magnesium Ingot market in 3th week of 2024
Magnesium Ingot market in 3th week of 2024
Looking back at this week, due to the magnesium price falling to the 20000 yuan/ton mark in the later part of last week, many downstream demand and intermediaries chose to enter the market to stock up. In the early part of this week, market activity continued to rise, and magnesium prices rose accordingly. The market price during the week has cumulatively increased by about 300-400 yuan/ton compared to last Friday. This is also the first time in over half a month since New Year's Day that the magnesium market has seen an upward trend. In the past two days, as market quotations have been continuously raised, downstream customers have been cautious and cautious, resulting in a slowdown in market transactions. There has been no significant change in the market today, continuing yesterday's trend. There is a strong wait-and-see atmosphere between supply and demand sides.
Based on comprehensive analysis, currently Lanzhou Charcoal is experiencing severe losses and unsold products, and the phenomenon of factory inventory accumulation is severe, which provides certain support for the cost side of magnesium enterprises. Therefore, the quotation is relatively firm; The overall downstream demand is still weak, coupled with many customers restocking recently, the market's acceptance of high prices is limited. It is expected that the magnesium market will maintain a stable and strong trend in the near future. Observe the follow-up of subsequent transactions.
Pub Time : 2024-01-19 17:05:23 >> News list
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