Chinese magnesium powder prices increase slightly
2024-04-17 08:29:34 [Print]
BEIJING (Asian Metal) 17 Apr 24 - Given rising upstream magnesium ingot prices, the prevailing Chinese magnesium powder prices increase to the current RMB19,700-20,100/t (USD2,736-2,791/t) EXW D/P, an increase of RMB400/t (USD55/t) from last Friday. Discouraged by slow demand from downstream steel mills and chemical plants, Chinese magnesium powder market witnesses very few deals and more buyers prefer to watch the market. Considering strong intentions to hold firm offers from upstream ingot suppliers, insiders forecast that the mainstream Chinese magnesium powder prices would remain firm in the coming days.
"I lift my offer for magnesium powder to the present RMB19,900/t (USD2,763/t) EXW D/P as upstream ingot prices move up to RMB18,600/t (USD2,583/t) today," said a magnesium powder producer in Liaoning, adding that he fails to conclude any deals today at RMB19,900/t (USD2,763/t) due to shortage of orders from downstream steel mills and he keeps delivering some signed orders. He sold about 30t of the material late last week at RMB19,500/t (USD2,708/t) and kept updating offers this week. Discouraged by slow demand from downstream steel mills and chemical plants, he holds a pessimistic attitude towards the market movements in the coming days. Nevertheless, in view of firm upstream ingot prices, he anticipates that the mainstream Chinese magnesium powder prices would remain firm in the coming days.
The producer, with an annual production capacity of 8,000t, predicts to produce about 400t in April and produced a similar volume last month. He holds around 50t of stocks, while about 30t last month. He produced around 6,000t of the metal in 2023 and predicts to produce about 1,300t of the metal up till late April in 2024.
"As upstream magnesium ingot prices move up to the present RMB18,700/t (USD2,597/t) EXW D/P, I increase my offer for magnesium powder to the current RMB20,000/t (USD2,777/t) and reject to accept any price cuts," said a magnesium powder producer in Henan, noting that he receives two inquiries less than 20t respectively, while all related clients refuse to purchase at last as the current prices stay beyond their acceptance. Due to slow movements in the spot market, he fails to fight for deals up till now within this week and only sold about 30t last Thursday at RMB19,600/t (USD2,722/t). In view of strong intentions to hold firm offers from upstream ingot suppliers, he forecasts that the mainstream Chinese magnesium powder prices would remain firm in the next two days.
With an annual production capacity of around 16,000t, the producer expects to produce around 550t in April and produced around 600t in March. He produced about 1,500t of the metal in Q4 of 2023 and predicts to produce about 1,700t up till late April in 2024.
"I lift my offer for magnesium powder to the present RMB19,900/t (USD2,763/t) EXW D/P as upstream ingot prices move up to RMB18,600/t (USD2,583/t) today," said a magnesium powder producer in Liaoning, adding that he fails to conclude any deals today at RMB19,900/t (USD2,763/t) due to shortage of orders from downstream steel mills and he keeps delivering some signed orders. He sold about 30t of the material late last week at RMB19,500/t (USD2,708/t) and kept updating offers this week. Discouraged by slow demand from downstream steel mills and chemical plants, he holds a pessimistic attitude towards the market movements in the coming days. Nevertheless, in view of firm upstream ingot prices, he anticipates that the mainstream Chinese magnesium powder prices would remain firm in the coming days.
The producer, with an annual production capacity of 8,000t, predicts to produce about 400t in April and produced a similar volume last month. He holds around 50t of stocks, while about 30t last month. He produced around 6,000t of the metal in 2023 and predicts to produce about 1,300t of the metal up till late April in 2024.
"As upstream magnesium ingot prices move up to the present RMB18,700/t (USD2,597/t) EXW D/P, I increase my offer for magnesium powder to the current RMB20,000/t (USD2,777/t) and reject to accept any price cuts," said a magnesium powder producer in Henan, noting that he receives two inquiries less than 20t respectively, while all related clients refuse to purchase at last as the current prices stay beyond their acceptance. Due to slow movements in the spot market, he fails to fight for deals up till now within this week and only sold about 30t last Thursday at RMB19,600/t (USD2,722/t). In view of strong intentions to hold firm offers from upstream ingot suppliers, he forecasts that the mainstream Chinese magnesium powder prices would remain firm in the next two days.
With an annual production capacity of around 16,000t, the producer expects to produce around 550t in April and produced around 600t in March. He produced about 1,500t of the metal in Q4 of 2023 and predicts to produce about 1,700t up till late April in 2024.
