A quick look at the magnesium market in midweek
2024.1.10th
On Wednesday, there was no significant change in the magnesium ingot market. Today, I understand that the mainstream factories in Fugu area have a cash exchange rate of 20,100-20,200 yuan including tax, and the actual order can be negotiated. Other regional markets were also largely stable. 
More than half of this week, the magnesium market continued to operate in a weak and stable stalemate. According to market feedback, the market inquiry and procurement activity has increased in the past two days. With the magnesium ingot ** approaching the 20,000 tons mark, and taking into account the support of the factory cost side, some downstream demand customers began to choose the opportunity to enter the market, and gradually purchased some sources, and the transaction price was in the range of 20,000-20,100 yuan tons including tax. Although the market turnover has increased compared with before, the overall market pattern has not changed, and the supply and demand side is still slightly unbalanced. On the whole, the current magnesium ingot market is due to the weak overall demand of the downstream, and the market transactions are mostly rigid demand. In the absence of other favorable factors in the market, the demand side customers have difficulty in accepting the first, but the low-price transaction has improved slightly, and the bottom of magnesium prices has stabilized. It is expected that the magnesium market may continue the stalemate game in the short term, ** fluctuating in a narrow range in the range. Wait and see how the follow-up will be.