Magnesium Powder Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst

For the Quarter Ending September 2023

North America:

In the third quarter of 2023, the market performance of Magnesium Powder in North America took a diverse trajectory. Magnesium Oxide prices witnessed a general decline, albeit with a slight increase noted in September 2023. Conversely, Magnesium Stearate displayed an overall positive outlook but concluded September 2023 on a pessimistic note. Examining Magnesium Oxide, regional market demand remained low until mid-Q3, with a slight improvement observed in September 2023. In contrast, the Upstream market witnessed consistent price hikes for Magnesium Chloride until the end of Q3, despite excess feedstock availability among merchants and industrialists. Regarding Magnesium Stearate, off-takes in pharmaceuticals, cosmetics, and other industrial sectors increased compared to the previous quarter. The inventory restocking efforts of large firms slowed down the rate of inventory reduction, leading to surplus inventory in August and subsequent domestic price reductions. However, prices gradually improved in September 2023 due to increased production in upstream factories, maintaining a robust market operating rate throughout the last month of the third quarter. Factories were eager to raise prices, sustaining an optimistic market trajectory for Magnesium Oxide. As for Magnesium Stearate, supplies remained ample in line with the overall demand within the region.

Asia Pacific:

Throughout Q3 in the APAC region, both Magnesium Oxide and Magnesium Stearate exhibited a consistent downward trend. Market dynamics for Magnesium Oxide varied across grades, with bearish consumption in feed industries persisting until mid-Q3 and showing improvement towards the end of the quarter. In the food industry, the price of food-grade Magnesium Oxide (MO) slightly improved compared to the previous month. Market participants found themselves with significant inventory levels for both MO grades, effectively meeting overall demand. Furthermore, the prices of upstream Magnesium Chloride remained consistently high throughout the quarter, leading to opposing market sentiments for both downstream and upstream sectors. Stearic Acid prices began Q3 positively but experienced a modest dip in August. However, this dip did not impact the supply-demand balance of Magnesium Stearate, as merchants managed to sell their products at higher prices and fulfill overseas inquiries. Moving into September, both grades of Magnesium Powder experienced a volatile market situation. The month began with uncertainty in downstream industry demand, surplus stock availability for certain grades, and a widened demand-supply gap, creating a varied market scenario. Additionally, input costs surged at the fastest pace since January, driven by increasing prices of chemicals, crude oil, and industrial metals. Chinese policymakers faced the challenge of revitalizing stalled economic growth, with analysts suggesting more aggressive measures in addition to the incremental support provided in recent months.

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Across the European region, Magnesium Powder mirrored the market trend seen in the United States throughout the third quarter of 2023. A weaker price trajectory for Magnesium Oxide in the domestic market contributed to a reduction in sales during the third quarter of 2023. Meanwhile, traders continued to place orders for Magnesium Stearate as consumption in pharmaceutical and food industries continued to rise. The depreciation of the euro against the US dollar until September supported the upsurge in prices of Magnesium Stearate across Europe. Consequently, import prices remained on the north side. Considering economic conditions in Europe, primarily in Germany until mid-Q3, the consumer price index (CPI) in Germany for August 2023 was 6.1%, a slight decrease from the 6.2% inflation rate in July 2023. The cost of energy and fuel rose considerably, keeping trading costs on the higher side in August. Meanwhile, inventory levels among merchants for both Magnesium Stearate and Oxide were sufficient, maintaining somewhat balanced market dynamics.

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