A new week begins. This week, most parts of our country will usher in cooling weather. Everyone pay attention to cold protection and warmth. In terms of the magnesium market, due to the fact that the demand has not improved, some factories have to destock and withdraw funds at the end of the month, and the magnesium market is under pressure and declines rapidly. On the 28th, it was learned that 99.9% of the magnesium ingot factories in Fugu area quoted the mainstream ex-factory cash price of 22,700 yuan/ton including tax, and some factories did not quote for the time being. Continue to fall by 200-300 yuan/ton, and other regions will follow suit.

    Under the continuously falling market conditions, the purchasing psychology of buying up and not buying down, recently, downstream purchases have continued to be cautious, the transaction in the magnesium market is still relatively small, and factories are mainly actively digesting inventory.

    On the 28th, Shangmei learned from a person in the magnesium industry that due to the impact of the domestic epidemic, domestic demand has continued to be low recently, and foreign purchases have not been active. Regarding the short-term trend of the magnesium market, the person believes that there is no major positive news to boost the market. It is difficult to improve the situation.

    According to the analysis, from the perspective of supply and demand, since the current demand has not improved, the pressure on the magnesium market still exists at the end of the month. Considering that the current price of magnesium has fallen by nearly 22,500 yuan/ton, most factories are already operating at a loss, and it is expected that the further decline will be limited. This week, the weak consolidation may be the main trend, and we will wait and see how the demand will follow up.