In the first week of September, driven by the rising prices of ferrosilicon and coal, the spot shortage of stacking plants continued, and magnesium prices hit a new high. On September 3, 99.9% of the factories in the magnesium ingot Fugu area reported that the mainstream ex-factory cash price including tax was 30500-31000 yuan / ton, with a transaction of 30500 yuan / ton, which was 4500 yuan / ton higher than that of the previous Friday, and other areas followed the adjustment. So far, the price of magnesium has soared by about 8300 yuan / ton in a short period of two weeks from August 20 to September 3.
It is also understood that as magnesium prices have continued to rise recently, rising to a peak rarely seen in nearly a decade, downstream enterprises have become more difficult to operate, demand has significantly decreased in the near future, traders have a strong fear of heights, and magnesium procurement has slowed down. since last Thursday, the increase in magnesium prices has slowed down. However, the factory's quotations remained strong, supported by rising raw materials, rising costs and spot shortages.
On September 3, the author learned from the sales general manager of a magnesium factory in Fugu that when the magnesium price rose above 30000 yuan / ton this week, fewer and fewer enterprises were acceptable downstream, the order follow-up slowed down, and the rise in magnesium price slowed down. Taking into account the current factory is still single production, superimposed ferrosilicon price rise support, the person believes that magnesium prices fall difficult, the near future or stable strong operation situation. It is also understood that on September 2, the quotation of the Seventh ferrosilicon factory in Shaanxi rose to 12000 yuan / ton. According to the analysis, from the point of view of the relationship between supply and demand, in view of the current factory spot shortage, double control of superimposed energy consumption, strict environmental requirements, and slow production capacity release, it is expected that the factory quotation will be strong. Considering the recent slowdown in downstream procurement, it is difficult for magnesium prices to continue to rise. This week, the magnesium market or high-level strong trend, wait and see demand follow-up.
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