First Quarter of 2023 in Asia- Pacific Magnesium Powder Prices

North America

The Magnesium Powder Prices demonstrates a mixed market trend for Magnesium Oxide hearse, a decremented trajectory for Magnesium Stearate throughout the first quarter of 2023. However, prices inclined in January due to healthy domestic demand with limited stocks among the market participants. Besides this, consumer demand showed a weaker trend even if the market trend remained on the upper side as February approached, which caused local suppliers and traders to concentrate on placing orders in line with necessities. Also, the decrease in upstream Stearic Acid and oleic acid prices further supported the declining market trend for Magnesium Stearate until the end of the first quarter of 2023. However, improvement in trade activity somewhat supported the positive price trend in the market for Magnesium oxide until the very end of March. Overall, the cost of Magnesium Powder in the United States during the month of March was constructed at USD 440/MT for Magnesium Oxide and USD 2140/MT for Magnesium Stearate.

Asia Pacific

The first quarter of 2023 saw a mixed market trend for Magnesium Oxide, while the prices for Magnesium Stearate went down until the end of March 2023. The mood in the Chinese markets began to improve slightly at the beginning of January. After the Lunar New Year, when the government abandoned its zero-COVID policy, both consumption and production significantly increased. This was primarily because of better demand. In contrast, prices for Magnesium Oxide began to decline steadily as February 2023 got underway. Likewise, as February approaches, the Magnesium Stearate Prices started to decrease and continue to end this quarter on a bearish note. This was made possible by a significant decrease in imports owing to a decline in upstream cost as well as a decline in both domestic demands from downstream industries and international inquiries. Overall, the price of Magnesium Oxide was settled at USD 1970/MT in China, with a sturdy market trend in the month of March, while the prices of Magnesium Stearate were assembled at USD 1730/MT.

Europe

Throughout the first quarter of 2023, the price of Magnesium Oxide shows a mixed market trend and a declining trajectory for Magnesium Stearate. Prices did, however, climb in January as a result of strong domestic demand and low stock levels among market players. Additionally, through the end of the first quarter of 2023, the fall in upstream stearic acid and oleic acid prices reinforced the downward market trend for magnesium stearate. In addition, as February drew nearer, consumer demand exhibited a lower trend even if the market trend remained positive. As a result, local suppliers and dealers concentrated on making orders in line with their needs.   However, a little uptick in trade activity helped to sustain the upward price trend for Magnesium Oxide in March.

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