Last week after the magnesium market went up to 50000 yuan/ton above, due to the recent downstream demand is weak, the lack of positive factors to support the situation this week magnesium market pressure high fall, to January 14, 99.9% magnesium ingot Fugu area factory reported the mainstream ex-factory cash price including tax 42000 yuan/ton, the mainstream transaction price 41000-42000 yuan/ton, The firm order price can be negotiated, which is about 10000 yuan/ton lower than the highest price last week.
Under the falling market, this week the downstream users are cautious in purchasing at a high price. The overall transaction of magnesium market is not much, and the users who are not in a hurry to stock up temporarily wait and see the market.
On the 14th, I learned from the sales general manager of a magnesium factory in Fugu area that today they quoted the ex-factory cash price of pu Magnesium including tax 42,000 yuan/ton, and they have been shipping according to the market.
According to the analysis, from the perspective of supply and demand, in view of the overall weak downstream demand, affected by the epidemic in Tianjin, the export of goods is not smooth, and there is not much good news in the short-term magnesium market pressure still exists. The pace of the Spring Festival is getting closer and closer, and some downstream users need to stock up. It is expected that with the magnesium price gradually approaching the psychological price of the purchaser, the downstream purchase will be expected to increase, and we will see the progress of downstream stock up.