Indian Buyers Are Watching The Magnesium Ingot Market.

Due to weak demand in India, the import market for magnesium ingots in India has seen sluggish transactions. Coupled with softening prices in China, the mainstream import price of magnesium ingots in India has slightly fallen to $2,570-2,590 /MT CIF (Cost, Insurance, and Freight), a decrease of $30 /MT from the previous weekend. Most buyers are cautious and mainly adopting a wait-and-see approach, resulting in limited spot transactions. Industry insiders expect the mainstream import prices in India to remain weak in the coming days.
An Indian magnesium ingot importer stated, "The most competitive magnesium ingot offer we've received has dropped to the current $2,570 /MT Nava Sheva CIF. Due to the softening price trend, I'm refusing to follow up with purchases." He noted that he had planned to purchase about 50 MT at the beginning of this week, but considering the weakening market, he prefers to postpone the purchase plan. His supplier refused to ship at a price below $2,610 /MT in the latter part of last week, during which prices exceeded his expectations, so he has been watching the market. He bought about 50 MT of magnesium ingots a week ago at a price of $2,560 /MT. Given the cautious approach of buyers and the softening of prices in China, he expects mainstream import prices to remain weak in the coming days.
The company's regular monthly import volume is around 300 MT, and they expect to import around 200 MT in April, similar to the previous month, with a current inventory of 30 MT. They imported about 3,300 MT of magnesium ingots in 2023 and about 900 MT in the first quarter of 2024.
Another magnesium ingot importer in India said, "As domestic prices have slightly declined, my supplier has offered a price of $2,580 /MT CIF India. If the order exceeds 20 MT, they can accept a counteroffer of $2,570 /MT, but I currently have no orders on hand and plan to postpone purchases." He stated that he has no intention of stocking inventory until receiving any confirmed orders.
A week ago, he imported only 25 MT as planned, at a transaction price of $2,580 /MT. Given the weak demand in India and softening prices in China, he expects mainstream import prices to remain weak in the coming days.
This importer's regular monthly import volume is about 400 MT, and they expect to import around 400 MT in April, with approximately 350 MT imported in March, currently holding 20 MT in inventory. They imported about 4,600 MT of magnesium ingots in 2023 and are expected to import about 1,100 MT in the first quarter of 2024.

Request a Quote

We receive enquiries in English, Español (Spanish), Français (French) and العربية (Arabic).Our professional team will reply to you within one business day.Please feel free to contact us!