On the 12th, magnesium prices showed signs of decline again, and the overall market situation was still weak. Due to the weak market transactions, ferrosilicon has been weak, and the support of raw material costs on magnesium ingot prices has weakened. At the same time, after the sentiment weakened, market participants took a wait-and-see attitude, trading activities were relatively conservative, and transaction progress was slightly slow. Some manufacturers with high inventory were willing to lower prices to ship, resulting in a slight decline in some parts of the market.
The overall downstream demand is expected to be weak, and the wait-and-see sentiment is relatively strong. There is no obvious growth point for the time being. Customers' purchasing rhythm is mainly based on rigid demand and small quantities. The magnesium alloy market is relatively stable, while the magnesium powder market is mainly based on fulfilling existing orders. Some steel mills and chemical plants remain cautious in purchasing and remain alert to market changes. The stalemate between supply and demand continues, and magnesium prices may stabilize in the short term and fluctuate in a narrow range.
