According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province fell this week (9.8-9.12), with an average market price of 17225 yuan/ton at the beginning of the week and 17050 yuan/ton at the end of the week, a decrease of 1.02%.
| Gamma-PGA (gamma polyglutamic acid) |
This week, the price has fallen to around 17000 yuan per ton, almost returning to the price before the price increase in late July.
Supply and demand side
In terms of supply, the overall supply of magnesium smelting enterprises remains stable and shows a slight upward trend, but their inventory has once again decreased. Magnesium smelting enterprises generally have a certain degree of panic. In addition, some enterprises are facing cash flow shortages in the middle of the month, and some choose to sell at low prices in small quantities, which has to some extent triggered a short-term price drop in the market..
In terms of demand, after the decline in magnesium prices, some downstream users began to purchase while prices were decreasing due to replenishment and delivery needs. However, those users who do not have emergency replenishment plans are still cautious and waiting to follow up; At the same time, some factories are actively and orderly arranging shipments, and the total amount of spot goods in the current market is not abundant.
Raw material end
The price of coal is constantly rising, while the price of blue charcoal remains relatively stable. The price of dolomite has significantly increased, and the price of ferrosilicon is expected to rise significantly, resulting in a significant increase in overall costs.
comprehensive analysis
This week, due to insufficient demand support, the magnesium market is facing downward pressure and has entered a phase of consolidation and decline. Entering September, the inventory of magnesium production end is rapidly digested, while upstream supply may decrease due to equipment maintenance, making it more difficult for magnesium prices to continue to decline. It is expected that after the market adjustment over the weekend, the magnesium market is expected to gradually stabilize.
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