Magnesium alloy sliding down further in price
2013-09-16 09:00:06 [Print]
BEIJING (Asian Metal) 16 Sep 13 - With RMB15,400-15,500/t (USD2,500-2,516/t) ex works supplanting RMB15,500-15,600/t (USD2,516-2,532/t) ex works as the current price in Shaanxi magnesium ingot market, magnesium alloy producers bring down their quotations by another RMB100/t (USD16/t) ex works to RMB17,500-17,700/t (USD2,841-2,873/t) ex works in price under a heavily wait-and-see atmosphere.
A Jiangsu magnesium alloy smelter with a monthly output of 7,000t has just compromised over another RMB100/t (USD16/t) ex works lower so as to attract the attention of domestic purchasers. “I can get my hands on the material at RMB15,500/t (USD2,516/t) ex works, RMB100/t (USD16/t) ex works lower than last week,” disclosed he, believing that both home and foreign consumers are awaiting the appearance of the bottom price in the magnesium alloy market.
“Some users did ask how much I offered, but grew silent on hearing the price,” told he, with his quotation reduced to RMB17,500/t (USD2,841/t) ex works in order to win their hearts. “Word goes around that some suppliers even sell RMB15,300-15,400/t (USD2,484-2,500/t) ex works, so I’m afraid alloy will go a little cheaper sooner or later,” judged the source.
A Shanxi magnesium alloy producer with an output of 2,500tpm also confirms with Asian Metal another price reduction by RMB100/t (USD16/t) ex works to RMB17,700/t (USD2,873/t) ex works in magnesium alloy. “Most peers have ratcheted down their offers by RMB100/t (USD100/t) ex works,” pointed she, revealing that 17,500/t (USD2,841/t) ex works has emerged in the market. Therefore, she follows suit with RMB17,700/t (USD2,873/t) ex works in order to keep pace.
Besides, the source shared with Asian Metal that a continuous price fall in upstream magnesium ingot proves to be a second reason for her quotation reduction. “Ingot’s dropped to RMB15,800/t (USD2,564/t) ex works in price here,” pointed she, “RMB100/t (USD16/t) ex works cheaper than the other day.”
A Jiangsu magnesium alloy smelter with a monthly output of 7,000t has just compromised over another RMB100/t (USD16/t) ex works lower so as to attract the attention of domestic purchasers. “I can get my hands on the material at RMB15,500/t (USD2,516/t) ex works, RMB100/t (USD16/t) ex works lower than last week,” disclosed he, believing that both home and foreign consumers are awaiting the appearance of the bottom price in the magnesium alloy market.
“Some users did ask how much I offered, but grew silent on hearing the price,” told he, with his quotation reduced to RMB17,500/t (USD2,841/t) ex works in order to win their hearts. “Word goes around that some suppliers even sell RMB15,300-15,400/t (USD2,484-2,500/t) ex works, so I’m afraid alloy will go a little cheaper sooner or later,” judged the source.
A Shanxi magnesium alloy producer with an output of 2,500tpm also confirms with Asian Metal another price reduction by RMB100/t (USD16/t) ex works to RMB17,700/t (USD2,873/t) ex works in magnesium alloy. “Most peers have ratcheted down their offers by RMB100/t (USD100/t) ex works,” pointed she, revealing that 17,500/t (USD2,841/t) ex works has emerged in the market. Therefore, she follows suit with RMB17,700/t (USD2,873/t) ex works in order to keep pace.
Besides, the source shared with Asian Metal that a continuous price fall in upstream magnesium ingot proves to be a second reason for her quotation reduction. “Ingot’s dropped to RMB15,800/t (USD2,564/t) ex works in price here,” pointed she, “RMB100/t (USD16/t) ex works cheaper than the other day.”
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' sales to production ratio statistics by month
Unit: %
