Chinese magnesium alloy prices stable
2024-04-18 08:21:23 [Print]
BEIJING (Asian Metal) 18 Apr 24 - On account of stable upstream magnesium ingot prices, the mainstream Chinese magnesium alloy prices stay flat at RMB20,500-21,000/t (USD2,847-2,916/t) EXW D/P, unchanged from late last week. Most downstream buyers from die casting plants purchase the material steadily, and the spot market moves smoothly. Insiders are of the opinion that the mainstream Chinese magnesium alloy prices would remain stable in the forthcoming two days given stable upstream ingot prices.
"The most competitive offer for magnesium alloy stays at the present RMB20,500/t (USD2,847/t) EXW D/P, and I prefer to postpone my purchase to late this week given enough stocks now," said a magnesium alloy consumer in North China, adding that he bought 35t of the material this Tuesday at RMB20,500/t (USD2,847/t). Given rising price gap for magnesium and aluminum, he thinks the current prices for magnesium alloy stay acceptable for them. In view of strong intentions to hold firm offers from upstream magnesium ingot suppliers, he anticipates that the mainstream Chinese magnesium alloy prices would remain flat and most buyers are inclines to purchase the material as scheduled.
With an annual consumption capacity of 4,000t, the consumer predicts to use about 220t of the material in April and consumed a similar volume last month. He holds around 60t of stocks now, unchanged from late last month. He consumed about 3,200t of the metal in 2023 and predicts to consume about 1,100t up till late April in 2024.
"As upstream magnesium ingot prices stay unchanged at the present RMB18,600/t (USD2,583/t) EXW D/P, I insist on my quotation for magnesium alloy at the current RMB20,600/t (USD2,861/t) EXW D/P and reject to accept any price cuts from buyers," said a magnesium alloy producer in North China, noting that the spot market moves steadily and he only has about 100t of stocks. He sold about 60t of the metal at RMB20,600/t (USD2,861/t) and predicts to sell the same volume late this time. Considering stable purchase from downstream die casting plants and stable upstream ingot prices, he forecasts that the mainstream Chinese magnesium alloy prices would remain flat in the coming days.
The producer, with an annual production capacity of 15,000t, predicts to produce about 900t of the metal in April and produced around 820t in March. He holds about 100t of stocks presently, almost identical to late last month. He produced about 11,000t of the metal in 2023 and predicts to produce about 3,100t so far in 2024.
"The most competitive offer for magnesium alloy stays at the present RMB20,500/t (USD2,847/t) EXW D/P, and I prefer to postpone my purchase to late this week given enough stocks now," said a magnesium alloy consumer in North China, adding that he bought 35t of the material this Tuesday at RMB20,500/t (USD2,847/t). Given rising price gap for magnesium and aluminum, he thinks the current prices for magnesium alloy stay acceptable for them. In view of strong intentions to hold firm offers from upstream magnesium ingot suppliers, he anticipates that the mainstream Chinese magnesium alloy prices would remain flat and most buyers are inclines to purchase the material as scheduled.
With an annual consumption capacity of 4,000t, the consumer predicts to use about 220t of the material in April and consumed a similar volume last month. He holds around 60t of stocks now, unchanged from late last month. He consumed about 3,200t of the metal in 2023 and predicts to consume about 1,100t up till late April in 2024.
"As upstream magnesium ingot prices stay unchanged at the present RMB18,600/t (USD2,583/t) EXW D/P, I insist on my quotation for magnesium alloy at the current RMB20,600/t (USD2,861/t) EXW D/P and reject to accept any price cuts from buyers," said a magnesium alloy producer in North China, noting that the spot market moves steadily and he only has about 100t of stocks. He sold about 60t of the metal at RMB20,600/t (USD2,861/t) and predicts to sell the same volume late this time. Considering stable purchase from downstream die casting plants and stable upstream ingot prices, he forecasts that the mainstream Chinese magnesium alloy prices would remain flat in the coming days.
The producer, with an annual production capacity of 15,000t, predicts to produce about 900t of the metal in April and produced around 820t in March. He holds about 100t of stocks presently, almost identical to late last month. He produced about 11,000t of the metal in 2023 and predicts to produce about 3,100t so far in 2024.
