Magnesium ingot export market remains stagnant
2011-11-14 16:39:32 [Print]
BEIJING (Asian Metal) 14 Nov 11 – Sources reported to Asian Metal that the export market still in a dull situation with few transactions occurred at the current time. One reason is that the market was influenced by the poor economy seriously, and most of buyers have no confidence in the market; another reason is that the price of magnesium ingot is not stable with severe fluctuations in the market, and some of buyers are holding watchful attitudes to the market.
A Xinjiang-based exporter reported that he has not referred to the export market, for he thought the export business is hard to deal with; at the same time, he only could earn little benefits. Compared to that of domestic market, he would like to pay more attention to the domestic market. “I heard that the currently some Chinese exporters are experiencing a hard time with dull business in the foreign market. Some exporters just offered USD3,000/t FOB China, but buyers bid it to lower than USD2,950/t FOB China,” said the source, adding that he is dealing with 1,000 tons of magnesium ingot every month with no stocks now.
The source confirmed that some low materials really influence the market, and it causes regular material could not export at a normal price. “I know that the limit price is about USD3,150/t FOB China, but exporters could not offer at this price, for buyers confirmed the price has beyond their acceptance,” said the source. There are no active signs showing in international demand so far, I will consider whether enter the international market in the near future.
A producer from Shaanxi exporting 400tpm of magnesium ingot, confirmed dull magnesium export market now. “Even though I just offered USD3,030/t FOB China now, overseas buyers are still want to bargain further,” said the source. “Now many buyers bid as low as USD3,000/t FOB China which is unacceptable for us.” Added the source, revealing that he will pay more attention to the domestic market. At the same time, he expected that the overseas buyers could purchase for the Christmas Day and New year in advance.
The source acknowledged that the export market keeps dull due to weak demand with poor economy. Furthermore, more foreign buyers claimed that they would watch the market for another few weeks to see the future trend. At a gloomy economy situation, buyers and producers are all showed lack of confidence in the market.
A Xinjiang-based exporter reported that he has not referred to the export market, for he thought the export business is hard to deal with; at the same time, he only could earn little benefits. Compared to that of domestic market, he would like to pay more attention to the domestic market. “I heard that the currently some Chinese exporters are experiencing a hard time with dull business in the foreign market. Some exporters just offered USD3,000/t FOB China, but buyers bid it to lower than USD2,950/t FOB China,” said the source, adding that he is dealing with 1,000 tons of magnesium ingot every month with no stocks now.
The source confirmed that some low materials really influence the market, and it causes regular material could not export at a normal price. “I know that the limit price is about USD3,150/t FOB China, but exporters could not offer at this price, for buyers confirmed the price has beyond their acceptance,” said the source. There are no active signs showing in international demand so far, I will consider whether enter the international market in the near future.
A producer from Shaanxi exporting 400tpm of magnesium ingot, confirmed dull magnesium export market now. “Even though I just offered USD3,030/t FOB China now, overseas buyers are still want to bargain further,” said the source. “Now many buyers bid as low as USD3,000/t FOB China which is unacceptable for us.” Added the source, revealing that he will pay more attention to the domestic market. At the same time, he expected that the overseas buyers could purchase for the Christmas Day and New year in advance.
The source acknowledged that the export market keeps dull due to weak demand with poor economy. Furthermore, more foreign buyers claimed that they would watch the market for another few weeks to see the future trend. At a gloomy economy situation, buyers and producers are all showed lack of confidence in the market.
Magnesium Ingot 99.9%min In warehouse Rotterdam
Unit:USD/mt
China's magnesium ingot producers' operating rate statistics by province by month
Unit: %
