Magnesium market in May is relatively stable, small fluctuations are dominant. According to data from business associations, the price of magnesium ingots declined slightly in the first half of May, and then remained stable for nearly two weeks. Towards the end of the month, the price of magnesium ingots loosened slightly, and the quotations of some manufacturers declined slightly.
Today’s main production areas are manufactured with tariff (99.9%, no pickling, simple packaging) as follows:
Fugu area ex-factory includes 16600-16800 yuan/ton of tax, Taiyuan area 16700-16800 yuan/ton of cash, Wenxi area 16750-16950 yuan/ton of cash and Ningxia area 16700-16800 yuan/ton of cash.
According to data from business associations, the average market price of magnesium ingots on May 30 was 16833.33 yuan/ton, down 1.13% from 17,025 yuan/ton on May 1, and up 2.64% from the lowest price of 16,400 yuan/ton on January 9, 2019.
Today’s magnesium ingot price fine-tuning, on the one hand, due to the raw material ferrosilicon in June, the latest steel price slightly lower impact, on the other hand, mainly based on the current market turnover is weak, and near the end of the month, manufacturers have strong demand for return funds, some manufacturers have downgraded quotations to obtain delivery.
Expected market outlook
At present, the magnesium market is on the low side, and the domestic magnesium ingot price is expected to remain weak and stable in the short term.