Chinese magnesium powder prices increase slightly
2024-04-08 08:29:09 [Print]
BEIJING (Asian Metal) 8 Apr 24 - Given rising upstream magnesium ingot prices, the mainstream Chinese magnesium powder prices increase to the present RMB19,000-19,300/t (USD2,638-2,680/t) EXW D/P, an increase of RMB200/t (USD28/t) from late last week. Nevertheless, restricted by slow demand from steel mills and chemical plants, Chinese magnesium powder market witnessed limited buying activities. Insiders forecast that the mainstream Chinese magnesium powder prices would stay firm in the forthcoming days in view of strong intentions to lift offers from upstream ingot suppliers.
"As upstream magnesium ingot price increases to the present RMB18,000/t (USD2,500/t) EXW D/P, I increase my offer for magnesium powder to the current RMB19,300/t (USD2,680/t) EXW D/P, but fail to close any deals due to watchful attitudes from buyers," said a magnesium powder producer in North China, adding that he didn't close any deals in the recent days. Discouraged by slow demand from downstream steel mills, he just experienced a slack state in early April and forecasts that his volume this April only could reach about 300t, while 400t last month. He last sold about 20t of the material early last week at RMB19,100/t (USD2,652/t) and kept carrying out some long-term deals signed below RMB19,000/t (USD2,638/t). Because upstream magnesium ingot suppliers still have strong intentions to lift offers, he predicts that the mainstream Chinese magnesium powder prices would remain firm in the coming days.
With an annual production capacity of 18,000t, the producer predicts to produce about 300t of magnesium powder in April and produced around 400t last month. He holds 20t of stocks now, unchanged from late last month. He produced about 4,600t of the metal in 2023 and predicts to produce about 1,800t up till late April of 2024.
"I increase my quotation for magnesium ingot to the current RMB19,400/t (USD2,694/t) EXW D/P and could accept RMB100/t (USD14/t) as a concession with any deals more than 20t, but my clients reject to purchase and even refuse to ask for price cuts with us," said a magnesium powder producer in North China, adding that his clients keep watching the market in the recent days and he even didn't close any deals at RMB19,100/t (USD2,652/t) this Wednesday. He last concluded a deal of 30t late last week at RMB19,300/t (USD2,680/t) according to a regular client's rigid demand. As magnesium ingot suppliers prefer to move up offers further, he anticipates that the mainstream Chinese magnesium powder prices would go up by another RMB100/t (USD14/t) in the coming two days.
The producer, with an annual production capacity of 10,000t, forecasts that his volume in April would reach about 260t and produced about 300t in March. He holds no inventory presently, almost identical to late last month. He produced around 3,600t of the metal in 2023 and predicts to produce around 1,200t of the material up till late April of 2024.
"As upstream magnesium ingot price increases to the present RMB18,000/t (USD2,500/t) EXW D/P, I increase my offer for magnesium powder to the current RMB19,300/t (USD2,680/t) EXW D/P, but fail to close any deals due to watchful attitudes from buyers," said a magnesium powder producer in North China, adding that he didn't close any deals in the recent days. Discouraged by slow demand from downstream steel mills, he just experienced a slack state in early April and forecasts that his volume this April only could reach about 300t, while 400t last month. He last sold about 20t of the material early last week at RMB19,100/t (USD2,652/t) and kept carrying out some long-term deals signed below RMB19,000/t (USD2,638/t). Because upstream magnesium ingot suppliers still have strong intentions to lift offers, he predicts that the mainstream Chinese magnesium powder prices would remain firm in the coming days.
With an annual production capacity of 18,000t, the producer predicts to produce about 300t of magnesium powder in April and produced around 400t last month. He holds 20t of stocks now, unchanged from late last month. He produced about 4,600t of the metal in 2023 and predicts to produce about 1,800t up till late April of 2024.
"I increase my quotation for magnesium ingot to the current RMB19,400/t (USD2,694/t) EXW D/P and could accept RMB100/t (USD14/t) as a concession with any deals more than 20t, but my clients reject to purchase and even refuse to ask for price cuts with us," said a magnesium powder producer in North China, adding that his clients keep watching the market in the recent days and he even didn't close any deals at RMB19,100/t (USD2,652/t) this Wednesday. He last concluded a deal of 30t late last week at RMB19,300/t (USD2,680/t) according to a regular client's rigid demand. As magnesium ingot suppliers prefer to move up offers further, he anticipates that the mainstream Chinese magnesium powder prices would go up by another RMB100/t (USD14/t) in the coming two days.
The producer, with an annual production capacity of 10,000t, forecasts that his volume in April would reach about 260t and produced about 300t in March. He holds no inventory presently, almost identical to late last month. He produced around 3,600t of the metal in 2023 and predicts to produce around 1,200t of the material up till late April of 2024.
