A new week has begun, and the magnesium ingot market has remained stable compared to last Friday, with relatively calm market performance. The current upstream and downstream markets have a strong wait-and-see atmosphere, with average market inquiries and purchases. Last week, the price of magnesium ingots in the market declined rapidly. Based on current market feedback, factories have gradually increased their willingness to stabilize prices. Today, the lowest quotation in the main production area is basically stable at 19000 yuan/ton including tax in spot exchange, and the rate of market price decline has temporarily slowed down.

There is currently no substantial breakthrough in the supply and demand side, and the contradiction of supply exceeding demand remains the main factor affecting market prices. The downstream demand side market continues to be weak, and the bearish sentiment in the industry is more obvious. The factory has also been quite conflicted recently, on the one hand, they want to actively ship and close deals to alleviate the financial pressure on the enterprise; On the other hand, due to production inversion and losses, we want to stabilize prices. Returning to the market at the beginning of the week, both supply and demand sides explored the market more and observed, and the fluctuation of the market situation was not significant for the time being.

Overall, the magnesium ingot market lacks favorable factors to support in the short term, and market price support is relatively weak. In the atmosphere of "buying up but not buying down", demand side customers are more cautious in inquiries and purchases, and factory inventory digestion is relatively slow, making it difficult to improve the supply and demand pattern. It is expected that the magnesium market will operate in a stalemate at the beginning of the week. Observe the follow-up of downstream transactions within the week.