Magnesium alloy jumping further in price

BEIJING (Asian Metal) 12 Aug 13 - Early this week testifies to another price jump by RMB200/t (USD32/t) ex works to RMB17,600-17,800/t (USD2,849-2,881/t) ex works in magnesium alloy with RMB15,900-16,100/t (USD2,574-2,606/t) ex works gaining the popularity in Shaanxi magnesium ingot market day by day.Asian Metal Copyright Her Zhejiang peer, who yields average 300t of magnesium alloy every month, has also realised an offer markup by RMB200t USD32t ex works to RMB17,750t USD2,873t ex works in view of a haughtily mounting price of Shaanxi magnesium ingot since three weeks ago.Asian Metal Copyright Yet transactions fail to grow in number under the circumstances of universal demand listlessness in unfavourable economic conditions.

A Shanxi magnesium alloy producer with an output of 600tpm shared with Asian Metal that she has lifted the quotation by another RMB200/t (USD32/t) ex works in order to keep pace with the upward price trend of magnesium ingot. “I hear ingot’s jumped to RMB16,000/t (USD2,590/t) ex works in price now, so I’ve to keep track,” explained she, drawing the line at RMB17,800/t (USD2,881/t) ex works rather than RMB17,600/t (USD2,849/t) ex works at this moment.

However, she denies seeing any active response from downstream consumers whose demand has fallen into a decline since early this year. “Buyers don’t grow eager on seeing alloy goes dear, and they stay cool,” commented the producer, adding that she would have driven up the price to at least RMB18,000/t (USD2,914/t) ex works should the market conditions had proved favourable.

Her Zhejiang peer, who yields average 300t of magnesium alloy every month, has also realised an offer markup by RMB200/t (USD32/t) ex works to RMB17,750/t (USD2,873/t) ex works in view of a haughtily mounting price of Shaanxi magnesium ingot since three weeks ago. “Ingot stood still at RMB14,500-14,700/t (USD2,347-2,379/t) ex works until three weeks ago,” recalled he, surmising that Shaanxi magnesium ingot providers intend to seize the opportunity of the facility maintenance of their local counterparts to gain the upper hand of downstream purchasers.

“But it doesn’t work, as far as I can see,” remarked the source, “since word goes around that only small deals can be settled.” According to the source, he seldom returned to the magnesium ingot market lately unless with orders on hand. “I’ve not sold any except dozens of tons at RMB17,750/t (USD2,873/t) ex works since it cost me RMB15,950/t (USD2,582/t) ex works last week,” disclosed he, positive that it proves difficult to conclude one deal in time of requirement languor nowadays.
.Asian Metal Copyright “I’ve not sold any except dozens of tons at RMB17,750t USD2,873t ex works since it cost me RMB15,950t USD2,582t ex works last week,” disclosed he, positive that it proves difficult to conclude one deal in time of requirement languor nowadaysAsian Metal Copyright