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Supported by the continuous shortage of factory spot supplies,the magnesium market continued to operate firmly upward.The factory quotation of 99.9% magnesium ingots rose to the level of 17,400-17,500yuan per ton. The mainstream transaction price was 17,400 yuan per ton,and low-priced supplies were hard to find. It is understood that recently, domestic purchases have been mainly driven by active market.

 

Magnesium plants in Fugu area revealed that the current quotation for common magnesium is 17,500 yuan per ton,and there is currently no spot available.From the perspective of supply -demand relationship, considering that the factory spot supplies continue to be limited,the quotations are expected to remain firm,and it is difficult for the magnesium market to decline further. Given that downstream enterprises made relatively concentrated purchases last week and it takes time for downstream users to accept high prices the magnesium market is expected to continue to rise.