Home
Chemical Prices
Magnesium Alloy Ingot

Magnesium Alloy Ingot Price Trend and Forecast

Get Real Time Prices

Magnesium Alloy Ingot Price Trend and Forecast

Get Real Time Prices

Market Overview

For the Quarter Ending June 2023

North America

The price of magnesium alloy ingot in the USA declined in the second quarter of 2023. This was due to various factors such as the declining economic condition amid rising inflation rate and debt crisis. The downfall of major banks across the USA created a debt crisis that adversely affected the Magnesium Alloy markets. Meanwhile, the ongoing trade war between the USA and China, which has disrupted supply chains, caused a decline in demand from overseas markets. The downstream automotive parts industries have been on a lower edge as vehicle sales declined amid plunging buying capacity from the buyer's side in the US spot market. Concerns about the global economic outlook have dampened demand as the buyers were shying away from placing large orders. The decline in prices has had a negative impact on the US magnesium industry. However, the industry is still expected to grow in the long term, as magnesium is a key material in several high-growth sectors, such as electric vehicles and aerospace.

APAC

The price of magnesium alloy ingot in India showed a bearish price trend in the second quarter of 2023. This was due to Weak downstream demand, particularly from the automotive and construction industries. The overseas market seemed to be dampening as the uncertain economic condition resulted in a lowering of orders from the overseas European and US markets. The inventory level remained high as the supply increased from China as new production capacity became active. The macroeconomic condition regarding the hike in the global inflation rate provoked buyers to shy away from placing large orders. The increased extraction and energy cost has been implying a downward pressure on the Magnesium Alloys market. A stronger rupee made the imported magnesium more competitive. Additionally, the declining demand from the downstream glass industry incited the mills to reduce their offer price. As a result of the price decline, the Indian magnesium industry is facing some challenges. However, there are also some opportunities, such as the potential for increased exports.

Europe

The price of magnesium alloy ingot in Germany declined in the second quarter of 2023 due to a combination of factors, including degrading economic conditions along with a rising inflation rate. In June, Germany entered a recession period as the inflation rate was consistently rising across Germany. The increase in the interest rate by the government led to a decrease in demand from the buyer's side as the uncertain economic condition provoked them to delay placing large orders as the market condition weakened—weak demand from the automotive industry as the European market continues to recover from the economic instability phase. The inventory level was on a higher edge as the supply from China increased as new production capacity came online. The strengthening of the euro made imported magnesium more competitive. The decline in prices has had a negative impact on the German magnesium industry. However, the industry is still expected to grow in the long term, as magnesium is a key material in several high-growth sectors, such as renewable energy and electronics.

How we can help

ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of ChemAnalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally.

Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for Magnesium Alloy Ingot is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

Learn More

Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

Learn More

Company Profile

Basic details and information on financial performance of leading global players in the Magnesium Alloy Ingot market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

Learn More

Methodology

ChemAnalyst gathers information through primary research surveys conducted with various Magnesium Alloy Ingot AZ91D manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company's annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Magnesium Alloy Ingot AZ91D market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry's performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behaviour of consumers across the globe.

Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Magnesium Alloy Ingot AZ91D market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.

Finally, region-specific markets for Magnesium Alloy Ingot AZ91D are analyzed and region-wise demand pattern is tracked.

About

Magnesium Alloy Ingot AZ91D is a popular magnesium casting alloy with good characteristics that are largely made of magnesium (about 90%), aluminium (around 9%), trace quantities of zinc (around 1%), and manganese. The term "AZ91D" refers to the alloy's particular composition and heat treatment. This alloy is widely sought after due to its low density, making it one of the lightest construction materials available. It has a high strength-to-weight ratio, strong corrosion resistance, and adequate mechanical qualities. Because of these characteristics, it is a popular option in a variety of sectors, including automotive, aerospace, electronics, and sports goods. The AZ91D alloy is cast as ingots, which may then be processed into different components and parts using casting, forging, or extrusion techniques. It is important to highlight, however, that magnesium alloys, particularly AZ91D, must be handled with caution due to their flammability and vulnerability to specific environmental conditions. Nonetheless, Magnesium Alloy Ingot AZ91D is a dependable and effective material for lightweight and high-performance applications when handled properly.

Product Specific Details

HS Code:	81041900
Grade:	AZ91D
Contract Size:	50MT-100MT
Packaging Type:	Bulk Packaging

Get real-time pricing intelligence for different chemical products traded worldwide under mentioned Incoterms:

Incoterms: CFR, FOB, Ex-Works

Incoterms Definitions –

CFR - The price at which a country imports a commodity, which includes the cost of the commodity and freight charges.

FOB - The price at which a country is exporting its commodities.

Ex-works - These are the actual factory price which does not include any logistics charges.

Ex-Location - These are the prices of traders/suppliers/distributors for domestic trade purposes.

Taxes - The prices shown on the portal are exclusive of all taxes such as GST or VAT

Discounts - ChemAnalyst publish contract prices, but we do not consider any trade discount or bulk discount.

Countries Covered:

· China

· India

· Germany

· Italy

· Netherland

· USA

Track real-time price movement of 400+ chemical and petrochemical products for informed purchase decisions

Magnesium Alloy Ingot Price Trend and Forecast

Our Clients