Magnesium Alloy Ingot Price | Prices | Pricing | News | Database | Chart

In Q2 2024, the Magnesium Alloy Ingot market in North America experienced relatively stable pricing dynamics, shaped by a mix of market factors. The quarter saw a balanced supply-demand environment, supported by steady production levels and moderate economic activity. While global industrial metals faced some disruptions, including occasional plant shutdowns at key facilities, the North American Magnesium Alloy Ingot market remained largely unaffected. This stability was underpinned by a lack of significant supply constraints, ample stock availability, and smooth logistics, keeping the market in equilibrium.

In the USA, the Magnesium Alloy Ingot (AZ91D) market saw some price fluctuations, reflecting broader trends and seasonal patterns. Despite a 7% drop in prices compared to the previous quarter, the market stabilized by the end of the quarter, resulting in only minimal overall price variation. This price stability was driven by balanced market conditions and the absence of major economic disruptions. Additionally, moderate to strong demand from the automotive sector helped maintain prices, even as the broader manufacturing sector showed signs of slowing down. Sentiment remained stable throughout the quarter, with the pricing environment neither significantly positive nor negative. By the end of Q2 2024, the price of Magnesium Alloy Ingot (AZ91D) CFR HOUSTON in the USA was USD 3307/MT, reflecting a consistent outlook based on stable supply-demand fundamentals and moderate economic activity.

In Q2 2024, Magnesium Alloy Ingot prices in the APAC region trended downward, driven by weak demand fundamentals. High ocean freight costs deterred overseas buyers, and sluggish domestic economic conditions further pressured prices. Although the supply side remained stable, it saw some fluctuations due to rotational maintenance and production adjustments aimed at addressing squeezed profit margins and rising raw material costs. Despite increased production following maintenance, demand remained soft.

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China, a key player in the Magnesium Alloy Ingot market, saw notable price shifts. Magnesium alloy production increased year-over-year due to higher downstream processing activity and full-capacity operations at large manufacturers. However, demand challenges persisted, exacerbated by high aluminum prices and economic uncertainties. Seasonal factors, including the monsoon season and fluctuations in mining activities, also played a role in price trends. Overall, prices in China fell by 1% from the previous quarter, reflecting ongoing bearish sentiment. The quarter concluded with a price of USD 3268/MT for Magnesium Alloy Ingot (AZ91D) FOB Tianjin, illustrating a negative pricing environment characterized by stable supply, low demand, and economic uncertainty.

The European Magnesium Alloy Ingot market experienced a significant downturn in Q2 2024, marked by a negative pricing environment. Contributing factors included rising inflation, regulatory changes, and fluctuating energy costs. The introduction of the EU Critical Raw Materials Act (CRMA) affected supply dynamics by establishing production and recycling benchmarks. While these measures aimed to secure material availability, they created market uncertainty and disruptions. Additionally, rising alloy surcharges and volatile energy prices increased production costs, squeezing profitability.

The Netherlands saw the most significant price adjustments, highlighting the broader negative trend. The Dutch market faced a difficult quarter, with high-interest rates from the European Central Bank suppressing demand across sectors. Supply chain disruptions, including Thyssenkrupp's reduced production capacity, added further strain. Despite early optimism, weak manufacturing and construction activity, combined with underperformance in the automotive sector, contributed to the negative market sentiment. By the end of Q2 2024, the price of Magnesium Alloy Ingot in Europe had fallen by 12% compared to the previous quarter, settling at USD 2994/MT CFR Rotterdam. Persistent negative sentiment, driven by regulatory challenges, economic headwinds, and fluctuating demand, shaped a difficult market landscape, pushing prices lower.