Vietnam's Magnesium Chloride Market is Strong, With Rise in Consumption

The subsequent shutdown and elimination of outdated equipment directly affect the production and supply of feedstock Magnesium ingots in the Chinese region within the short term. Magnesium manufacturers are willing to uphold product prices.

The prices of Magnesium Chloride increased in the Vietnam market, with prices ranging at USD 150.00/tonne with a monthly escalation of 7.1% (USD 10) as recorded by ChemAnalyst pricing team data. The supply of Magnesium Chloride is low in the domestic market from the Chinese regional traders and suppliers.

The risk of wide fluctuations in the Magnesium market will be considered in the short term. The rise in prices has also affected downstream customers by the mentality of "buying up, not buying down," speeding up the pace of transactions. If the willingness to purchase  Magnesium Chloride is low, the procurement is done cautiously in the Vietnam regional market. The steady rise continues, but the downstream needs to actively buy unaffordable prices, and there needs to be more room for substantial fluctuations.

The cost-side support was more than sufficient, and the upward momentum was strong enough; the market transaction situation improved slightly, and downstream inquiries increased. Shipments are also active among traders. Few Magnesium Chloride plants do not have products in stock, and the purchase volume of downstream manufacturers is rising. The stockpiling of the product in the regional market was falling with the traders and the suppliers.

With the severe insufficiency of the current spot inventory of Magnesium Chloride, along with the gradual increase in downstream purchases, magnesium prices have risen rapidly. Although some people in the Magnesium Chloride factory said that environmental inspections impact the production capacity of Magnesium ingots, the Vietnamese market is optimistic.

Magnesium prices are rapidly rising due to a combination of factors, including an insufficient magnesium ingot spot inventory and a gradual increase in downstream purchases shortly.