The average price of magnesium ingots in the market decreased by 1.12% compared to the previous week. This week, magnesium ingot prices have been weak and downward, due to the continued weak downstream demand. Some factories have resumed work and production has slightly increased, suppressing magnesium prices.
Enterprises in the main production areas are gradually resuming production, and market supply is constantly increasing. However, downstream demand has not improved, domestic market transactions are sluggish, and foreign markets have entered traditional public holidays, resulting in a decrease in orders. In addition, due to the recent increase in sea freight rates, external orders have been reduced.
The short-term supply of magnesium in the market is more than expected, and the overall market is not optimistic. However, the current magnesium price factory profits are close to the bottom, and there is limited room for further reduction in magnesium prices. It is expected that the price of magnesium ingots will remain stable