With magnesium price sliding in Chinese market, pressure mounts on price in Rotterdam warehouse though it still ticks at around USD4,400-4,500/t. Participant believe it may slip very soon as most people are getting firm offers from Chinese buyers at around USD4,200-4,250/t CIF Rotterdam.
Today a container was reportedly concluded at USD4,400/t in warehouse Rotterdam and the seller believes we might see price sliding before end of the week or by next week if price in Chinese market continues to sink.
A European trader who sold a container for USD4,450/t in warehouse Rotterdam for prompt delivery and bought two containers for USD4,260/t CIF Rotterdam for early September shipment thinks the price is still high but may slide soon looking at the situation in Chinese market.
"We might see prices going down to around USD4,200/t in warehouse Rotterdam soon," predicted that source. "I think market will become quieter than it was before because consumers will totally relax to see the price sink to the bottom."
AsiaHowever, some consumers who really need material are looking into the market. A European consumers reported firm offer today at USD4,500/t d.d.p, but considering the possibility of buying at this price or something lower because the market seems to be giving them chance for bargain.
All eyes are on magnesium market now waiting to see where the price will settle with many players, predicting it might go down to around USD4,200/t in warehouse Rotterdam soon.
Today a container was reportedly concluded at USD4,400/t in warehouse Rotterdam and the seller believes we might see price sliding before end of the week or by next week if price in Chinese market continues to sink.
A European trader who sold a container for USD4,450/t in warehouse Rotterdam for prompt delivery and bought two containers for USD4,260/t CIF Rotterdam for early September shipment thinks the price is still high but may slide soon looking at the situation in Chinese market.
"We might see prices going down to around USD4,200/t in warehouse Rotterdam soon," predicted that source. "I think market will become quieter than it was before because consumers will totally relax to see the price sink to the bottom."
AsiaHowever, some consumers who really need material are looking into the market. A European consumers reported firm offer today at USD4,500/t d.d.p, but considering the possibility of buying at this price or something lower because the market seems to be giving them chance for bargain.
All eyes are on magnesium market now waiting to see where the price will settle with many players, predicting it might go down to around USD4,200/t in warehouse Rotterdam soon.
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