BEIJING (Asian Metal) 29 May 08 – Many Indian
buyers received higher offers of USD6,100-6,150/t CIF Indian main ports
for magnesium ingot but refused to place orders at such high prices.
Some of them felt that the market has touched the ceiling and is about
to turn around soon, market sources reported to Asian Metal.
An Indian trader who buys about 200tpm of magnesium ingot from China
declined an offer of USD6,150/t CIF Nava Sheva from a Chinese supplier
whereas the offer was at around USD6,050/t CIF Nava Sheva last week.
“As far as I know, few traders and consumers have bought magnesium
ingot from China during the past two weeks due to the high price,” said
the source. “Demand of magnesium in Indian local market is showing
signs of shrinking.”
The source believes that it will be difficult for Chinese suppliers
to raise offers further in the face of cooling demand from consumers.
Another Indian trader holds the same opinion. “We have not imported
magnesium ingot from China since mid-May for lack of inquiries,” said
the source. “If the situation keeps up, Chinese suppliers have to lower
offers to attract buyers.”
The source also received offers of around USD6,100/t FOB Chinese
main ports for magnesium ingot but failed to persuade end users to
accept the high price.
Meanwhile, a trader from China’s Shanxi Province reported to Asian
Metal that they quoted USD6,050/t FOB Tianjin to some Indian buyers but
was turned down. “We finally concluded the deal at USD6,000/t FOB
Tianjin, for the batch of material was purchased at a lower price.
Additionally, we’re afraid that the market has touched the roof and may
turn around soon.”
BEIJING (Asian Metal) 29 May 08 - The magnesium
ingot market has shown some signs of calming down in China. Although
many producers still insist on offers of around RMB37,000/t
(USD5,331/t) ex works, few deals have been reportedly concluded at
prices above RMB36,700/t (USD5,288/t) ex works. Some consumers have
already started to watch the market for fear that the price would drop
suddenly, market sources reported to Asian Metal. Asianmetal(English) http://www.asianmetal.com 9911 A
Shanxi-based magnesium ingot producer thinks that the market is stable
with the maintream price lingering at around RMB36,500/t (USD5,259/t)
ex works. Although many smelters have begun to quote RMB37,000/t
(USD5,331/t) ex works since the beginning of this week, few deals were
reportedly concluded at such a high level. "Actually, we haven't closed
any deals at prices above RMB36,600/t (USD5,274/t) ex works," said the
source, adding that the smelter is carrying out contracts signed at
RMB35,800-36,200/t (USD5,159-5,216/t) ex works. Asianmetal(English) http://www.asianmetal.com H6HS The
source thinks that the magnesium ingot market is unlikely to drop in a
short time, though it may not rise greatly either. "Although the
current price is far higher than the production cost, the rising prices
of ferrosilicon and coal will leave magnesium producers unwilling to
lower the price," said the source. "On the other hand, it is not
possible for the price to increase further; otherwise, more consumers
will be driven out of the market, leading to the decrease of demand and
consequent price decline." Asianmetal(English) http://www.asianmetal.com FA65 The
smelter is running normally at its capacity of 10,000tpy. In view of
the volatile market, it dares not sign long-term contracts, and most of
the output is sold in the spot market. Asianmetal(English) http://www.asianmetal.com 1403 "The
magnesium market seems to lose momentum to rise further," said a
Hebei-based magnesium alloy producer, who purchases about 100t of
magnesium ingot each month. "Some of our clients have already reduced
the purchase of our products. If the magnesium ingot price continues to
go up, most alloy manufaturers as well as end users will be driven out
of the market." Asianmetal(English) http://www.asianmetal.com B8M2 The
source received an offer of RMB36,800/t (USD5,303/t) ex works from a
Shanxi-based magnesium smelter but declined the offer for the high
price and lack of enquiries for downstream products. However, the
source predicts that the magnesium price is more likely to keep stable
in the near term as producers will try their best to pretend the price
from dropping in view of the higher production cost.
BEIJING (Asian Metal) 28 May 08 – Magnesium ingot
market in China remains at an upward trend with many smelters
increasing offers to around RMB37,000/t (USD5,331/t) ex works from
RMB36,500/t (USD5,259/t) ex works last week. The price has shown no
sign of ceasing rising, market sources reported to Asian Metal today. Asianmetal(English) http://www.asianmetal.com A29B A
Shanxi-based magnesium alloy producer purchased about 100t of magnesium
ingot at around RMB36,500/t (USD5,259/t) ex works on Monday and
reported that it is quite difficult to get such a price now. The source
reported that most smelters have increased their offers to RMB37,000/t
(USD5,331/t) ex works or even higher levels, leaving few willing to
sell the material at a price below RMB36,600/t (USD5,274/t) ex works. Asianmetal(English) http://www.asianmetal.com I906 According
to the source, magnesium ingot is still in tight supply in the spot
market which may stimulate smelters to push the price up further. “As
long as there are buyers in the market, smelters will not stop asking
for higher prices,” said the source. Asianmetal(English) http://www.asianmetal.com 2I44 A
Shanxi-based magnesium ingot producer refused a bid of RMB36,500/t
(USD5,259/t) ex works yesterday, claiming that they have no difficulty
in selling the material at RMB36,600/t (USD5,274/t) ex works.
Anticipating a higher price next week, the source is not eager to sell.
Asianmetal(English) http://www.asianmetal.com E7WH Running
with an output of 500-600tpm based on its capacity of 1,000tpm due to
unstable supply of coal gas, the smelter is currently fulfilling some
contracts signed at RMB35,500-36,200/t (USD5,115-5,216/t) ex works
during the past ten days. Asianmetal(English) http://www.asianmetal.com 0DGD “In
view of the increasing prices of ferrosilicon which is being offered as
high as RMB10,000-10,300/t (USD1,441-1,484/t) ex works as well as the
speculations that some smelters might be shut down before the Olympics
for environmental concern, the magnesium ingot price is likely to rise
further, albeit slowly,” added the source.
Magnesium and magnesium alloys are used in a wide variety of structural
applications include automotive, industrial, materials-handling,
commercial and aerospace equipment.
The automotive applications include clutch and brake pedal support
brackets, steering column lock housings, and manual transmissions
housings. In industrial machinery magnesium alloys are used for parts
that operate at high speeds and thus must be lightweight to minimize
inertial forces. Commercial applications include hand-held tools,
luggage, computer housings, and ladders. Magnesium alloys are valuable
for aerospace applications because they are lightweight and exhibit
good strength and stiffness at both room and elevated temperatures.
Magnesium is also applied in various nonstructural applications. It is
used as an alloying element in alloys of aluminium, zinc, lead, and
other nonferrous metals. It is used as an oxygen scavenger and
desulfurizer in the manufacture of nickel and copper alloys, as a
desulfurizer in the iron and steel industry; and as a reducing agent
in the production of beryllium and titanium. Gray iron foundries use
magnesium and magnesium-containing alloys as ladle addition agents
introduced just before the casting is poured. Magnesium is also being
used in pyrotechnics.
Designation for alloys shall consists of not more than two letters
representing the alloying elements specified in the greatest amount,
arranged in order of decreasing percentages, or in alphabetical order
if equal percentages, followed by the respective percentages rounded
off to whole numbers and a serial letter. The full name of the base
metals precedes the designation, but it is omitted for brevity when
the base metal being referred to is obvious.
A standard system of alloy and temper designations, according to
ASTM B 275, is explained in the table bellow.
First part
Second part
Third part
Fourth part
Indicates the two principal alloying elements
Indicates the amounts of the two principal alloying elements
Distinguishes between different alloys with the same percentages of the two principal alloying elements
Indicates condition (temper)
Consists of two code letters
representing the two main alloying elements arranged in order of
decreasing percentage (or alphabetically if percentages are equal)
Consists of two numbers
corresponding to rounded-off percentages of the two main alloying
elements and arranged in same order as alloy designations in first part
Consists of a letter of the alphabet assigned in order as compositions become standard
Consists of a letter followed by a number (separated from the third part of the designation by a hyphen)
