According to the Business Society’s commodity market analysis system, the magnesium ingot market in Shaanxi experienced a stepwise decline this week (November 10-14), with the average market price at 16,450 yuan/ton at the beginning of the week and 16,125 yuan/ton by the end, marking a 1.98% decrease.
| Gamma-PGA (gamma polyglutamic acid) |
Market quotations exhibited a stepped pattern of slight declines. At the beginning of the week when the market opened, quotations adjusted downward due to weak demand from downstream sectors. By Wednesday, this downward trend persisted, and by the weekend, prices further adjusted to 16,100 yuan per ton. Trading conditions remained relatively favorable, with follow-up orders from some downstream buyers.
supply and demand sides
On the supply side, magnesium smelters initially had a strong willingness to maintain prices. However, as cash pressures continued to mount, some companies were forced to change their strategies and began selling products at market prices. These enterprises often adopted flexible pricing adjustments, especially when market demand was weak, proactively lowering prices to facilitate transactions.
On the demand side, the overall purchasing willingness of downstream customers remains relatively weak. However, by Thursday, market quotations had dropped to lower levels, prompting some downstream customers to start placing follow-up orders.
Raw material end
The market price of coal continues to rise, while the price of semi-coke remains relatively stable, and the price of ferrosilicon shows no fluctuations, leading to an overall further increase in costs.
comprehensive analysis
In the near term, the overall market for magnesium ingots is unlikely to show significant improvement, with prices potentially remaining near current levels and maintaining a weak consolidation trend. As for whether the market can stabilize and rebound later, it will be necessary to closely monitor the specific conditions of downstream transactions and changes in the raw material market.
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