Market price trend review and forecast
Domestic price trend review
In April, the domestic magnesium daily average price fluctuation ranged from RMB 14,700 to RMB 15,300/ton, and the average monthly price was RMB 15,100/ton, which was a year-on-year increase of 1.68%. The average price from January to April was RMB 1510/ton, up 2.93% year-on-year.
In April, domestic magnesium prices first rose afterwards. In early April, magnesium prices fell slightly under the influence of ferrosilicon prices. Subsequently, Shaanxi Fugu County Magnesium Industry Association and Fugu County Lancang Industry Association jointly convened a council to discuss the production reduction of the production of blue carbon and magnesium ingots, and finally reached an agreement to reduce production by 50% according to the local production capacity of local carbon. The news came out. The price of magnesium rebounded and it was independent of the price of ferrosilicon. In late April, magnesium prices rose slightly as the price of ferrosilicon rebounded.