Magnesium prices rose to a 14-year high

In the second week of May, the price of superimposed ferosilicate rose, mainly driven by the continued surge of the coal market. In the first four days, the magnesium market continued its soaring pattern and stabilized on Friday.Up to May 14, 99.9% magnesium ingot Fugu area factory quoted the mainstream ex-factory tax cash price of 22,000 yuan/ton, last week, the transaction price rose to the highest 21,500 ~ 21,800 yuan/ton, Wenxi area 21,700 ~ 22,200 yuan/ton.So far, after the May Day, magnesium prices such as "soaring", on the line about 4500 yuan/ton, last Friday signs of stability.

It is also understood that as magnesium prices continue to rush high, downstream users and traders fear of high sentiment gradually increased, superimposed soaring has touched the red region of coal prices last week caused the government to pay attention to, the coal market risk aversion and fear of high sentiment heating up, last Friday magnesium city turnover slowed down, prices run stable.

May 14, the author from a market understanding, magnesium city smooth operation, turnover has slowed down, the downstream to wait and see the market, the personage believes that the short-term magnesium city or will stabilize the operation.

Last week, a magnesium powder factory manager said to the author, the recent rise of the whole upstream raw material market crazy, downstream enterprises under great pressure, foreign customers temporarily difficult to accept high prices, they are based on a small amount of procurement.It is also understood that due to the recent rise in magnesium prices, many processing enterprises and traders signed a low price, unable to pay the order, can only stop or destroy the order, the market appears a lot of destroyed single phenomenon.

Analysis that, from the point of view of supply and demand, in view of the recent rapid rise in magnesium prices, downstream acceptance of difficulties, procurement slowdown, high running pressure magnesium city.Considering the current factory spot is not much, superposition coal price, ferrosilicon price is still high, the cost support is expected to magnesium price downward space will be limited, wait and see future coal market progress and downstream procurement situation.

Analysis that, from the point of view of supply and demand, in view of the current coal price rise is still strong, some institutions are expected, this round of coal prices at the end of May spot is expected to break 1000 yuan/ton, affected by this, superposition factory spot is generally tight, is expected to the short-term magnesium market is still strong to good operation.Taking into account the recent magnesium price rise too fast, the downstream acceptance of difficulty, wait and see the market is in the majority, late magnesium price rise is expected to slow down.