According to the monitoring of the Commodity Market Analysis System of Shengyi Society, the magnesium ingot market in Shaanxi Province fell by 0.79% on October 25th.
After a period of stable support for up to half a month, magnesium prices have experienced two consecutive corrections this week. It is already under downward pressure near the cost line. Adjust to status operation. Today, mainstream manufacturers in Shaanxi region quoted 17500-17600 yuan/ton; The mainstream manufacturers in Shanxi region range from 17700-17800 yuan/ton.
On the supply side, factories have a strong willingness to raise prices under high cost pressures, but the large inventory leads to a decrease in quotes. On the cost side, the prices of ferrosilicon and coal have rebounded, weakening support for magnesium prices.
In summary, the factory’s losses continue to intensify, downstream demand has not significantly increased, prices are at a low level, and there is limited room for further decline.
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