For the Quarter Ending June 2023
North America:
The pricing dynamics of Magnesium Powder in the United States exhibited contrasting trends for its two grades, Magnesian Oxide and Magnesium Stearate, throughout the second quarter of 2023. When considering Magnesium Oxide, prices followed an upward trajectory until April, but saw significant declines in May and June. Several factors contributed to this price volatility, including fluctuating upstream Magnesium costs and varying demand from downstream sectors such as food, pharmaceutical, cosmetics, rubber, and others, making the market trend quite unpredictable in April. Moving further into the middle of Q2, prices of Magnesium Oxide experienced a substantial drop due to weakened consumption in the pharmaceutical, cosmetic, and rubber industries. Additionally, the upstream magnesium market played a role in further dampening market sentiments for Magnesium Oxide, a trend that persisted until the end of June 2023. On the other hand, prices for Magnesium Stearate remained on a downward trajectory until May, supported by consistent demand levels in downstream sectors and continuously weak upstream stearic acid costs. As the second quarter concluded in June, Magnesium Stearate prices showed signs of improvement, with demand experiencing a moderate upturn, balancing overall stock levels among local suppliers and retailers. Notably, the spread chart between upstream stearic acid and downstream Magnesium Stearate widened, indicating a negative trend for Stearic Acid and a positive one for Magnesium Stearate throughout June.
Asia Pacific:
Throughout Q2 2023, Magnesium Powder prices in the Asia Pacific (APAC) region, particularly in China, displayed varied trends for Magnesium Oxide and Magnesium Stearate. The pricing patterns for Magnesium Oxide, encompassing feed grade and food grade, exhibited distinct market trends. For feed grade, prices steadily increased during the initial months of Q2 but witnessed significant declines in the following months due to increased inventory accumulation and weakening demand from the feed sector. In contrast, prices for food grade Magnesium Oxide showed a positive trend until the middle of Q2, buoyed by heightened downstream demand and inadequate inventories. Manufacturers ramped up production in response to growing domestic demand and expectations of increased international inquiries. However, as June began, prices for food grade Magnesium Oxide declined sharply due to a sudden decrease in inquiries, impacting overall market sentiments as suppliers grappled with accumulating stocks. The trading activity of Magnesium Oxide remained affected throughout the second quarter due to fluctuating demand-supply dynamics. Additionally, China's manufacturing sector contracted for the third consecutive month in June, with the official purchasing managers' index (PMI) registering at 49.0, a slight improvement from May but still below the 50-point mark that signifies economic expansion. Conversely, the market trend for Magnesium Stearate across the APAC region during Q2 2023 depicted a consistent downward trajectory. Weaker upstream Stearic Acid costs further reinforced this decline, resulting in an average price decrease of 6 percent in the Chinese market over the course of the second quarter.
Get Real Time Prices of Magnesium Powder: https://www.chemanalyst.com/Pricing-data/magnesium-powder-1513
Europe:
Across the European region, the pricing trends for Magnesium Powder paralleled those in North America throughout the entire second quarter. Prices of Magnesium Oxide surged during the initial half of Q2, driven by a continuous uptick in domestic inquiries. Robust purchasing activity contributed to traders raising their quotations. However, as the second quarter progressed, prices began to decline significantly within the domestic market, leading to higher inventory levels. In addition, Germany's Consumer Price Index (CPI) decreased from 116.60 points in April to 116.50 points in May 2023, indicating a decline in domestic consumption rates. Conversely, prices for Magnesium Stearate exhibited a consistent downward trend throughout the second quarter. Given Germany's economic situation, no additional inquiries were observed for both grades across the country, as market participants were unable to identify a positive arbitrage opportunity. Furthermore, upstream Stearic Acid prices continued to demonstrate a weaker pricing trajectory throughout the second quarter of 2023, further supporting the overall downward market trend for Magnesium Stearate in Europe.
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