The magnesium market moved steadily into August

    The first week of August, the bottom of the magnesium, go forward, to August 7, 99.9% magnesium ingot mansion valley area factory to mainstream factory tax cash price 12850 yuan/ton, also have a factory price 12900 yuan/ton, mainstream clinch a deal the price of 1.28 ~ 12850 yuan/ton, taiyuan area of about 12950 yuan/ton, wenxi area of about 13100 yuan/ton, prices unchanged from the previous Friday, since the middle of July, magnesium city has a bottoming stability nearly one month at a time.

    Due to the lack of improvement in downstream demand recently, the transaction of magnesium market last week was still dull, and rigid demand was mainly purchased on demand. As for the trend of magnesium market this week, the market will continue to be stable without significant improvement in supply and demand relations.

    Last week, a foreign buyers to the author, said the outbreak hit this year, Europe slashed nearly half by the magnesium, march to may a lot of factory production, beginning in June the factory production in succession, but the production progress is slow, many orders they request to delay delivery, currently the outbreak in Europe is not over yet, 7, 8 and traditional off-season, the downstream factory arrange equipment maintenance, they only sporadic orders in July and August orders will also be very limited, lack of demand under the condition of the source for August market still more cautious.

    It is understood that recently about 4 or 5 factories in Shenfu area have cut production or stopped production for maintenance. However, market participants generally believe that compared with the weak demand market, the current reduction in the number of stopped production is not enough to affect the formation of the magnesium market, and it is still difficult for the short-term improvement of the magnesium market.Considering the current price of magnesium has fallen to the factory cost line, it is expected that it will be difficult to fall again, this week may continue to maintain the stability trend.