Magnesium market | upstream production difficult and downstream difficult to resume

General Market:

At the beginning of this week, market prices fell slightly, the overall change is not obvious.

Market Analysis:

At present, with the gradual increase of coal utilization rate, coal has been somewhat alleviated compared with the previous period. However, coal prices are still running at a high level, and factory capacity has not been fully released. The supply side is still maintaining the trend of production reduction and limit.But the tension has eased, and almost all companies have supplies on hand.The gradual stabilization of prices, so that some traders early stockpiling also began to sell.

Limited by the rapid rise in the price of magnesium in the early stage and the low recovery rate, some downstream customers are still mainly to digest the early procurement, holding a wait-and-see attitude to the market.External unilateral, the exchange rate is good, conducive to exports.But some foreign traders are also watching domestic price trends, new orders are not much.At present, the processing and packaging of magnesium ingots in tianjin port is still not fully resumed, and the shortage of personnel and the slow processing speed of goods also affect the smooth delivery of foreign orders to a certain extent.

To sum up, the epidemic has greatly affected the production of upstream and downstream enterprises. At the beginning of the week, everyone was trying to understand and watch the market trend, and it was expected that the short-term market would remain in a stalemate.