EXW prices for dolomite in Wutai remained flat week-on-week as the leading quarry suspended production due to environmental controls, tightening high-grade supply. Inflows from other regions kept national inventory ample, while demand from magnesium smelters provided support. The market exhibits localized tightness but overall looseness, and prices are likely to stay stable in the short term.
Asia
In the Asian markets, magnesium hydroxide prices experienced fluctuations, mostly trending downward during the first quarter of 2024. The Chinese New Year holidays significantly reduced operational days for factories and filtration units, leading to decreased supply for both domestic and international markets. Additionally, disrupted supply chains due to various disturbances prolonged transportation times along many global trade routes.
The metal and fertilizer industries were also experiencing a slowdown, curbing downstream demand for magnesium hydroxide. The rising energy and processing costs forced manufacturers to reconsider production volumes as existing stocks couldn't be sold favorably. Further, many plants planned maintenance closures, resulting in subdued market sentiments for magnesium hydroxide in Asia.
Europe
The European market for magnesium hydroxide mirrored the low pricing trend seen in Asia. Trade sentiments were weak, and sluggishness in downstream sectors influenced upstream outlooks. Delayed shipments from exporting countries and port congestion exacerbated the situation. Pirate threats further complicated ocean freight logistics, prompting shipping companies to limit their sailing vessels and causing significant shipment delays. Overall, the market performance for magnesium hydroxide in Europe was gloomy.
North America
Reflecting the trends in Asia and Europe, magnesium hydroxide prices remained on a downward trajectory in North America. Weak downstream procurement, especially from the food, pharmaceutical, and agriculture industries amidst high inflation, led to overstocked inventories in the region. Domestic trade for magnesium hydroxide was unsupportive, and international trade faced restrictions due to logistical challenges in the shipping industry. Rising crude oil prices also dampened manufacturers' sentiments throughout the period. Consequently, the price trend for magnesium hydroxide oscillated within narrow margins.
Analyst Insight
According to Procurement Resource, the price trend of Magnesium Hydroxide is estimated to fluctuate under the influence of limited growth of downstream industries and rise in the number of alternatives.
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Magnesium hydroxide is obtained through the precipitation of magnesium salts with alkali hydroxides. The salt is white, amorphous, and odorless with low solubility in water. It is known for its role as a flame retardant and smoke suppressant in industries like plastics, rubber, and textiles, offering a non-toxic and environmentally friendly alternative to traditional halogenated flame retardants.
Magnesium hydroxide also serves as an alkali agent in wastewater treatment processes, where it neutralizes acids and adjusts pH levels effectively. In pharmaceuticals, it acts as a mild laxative and antacid, providing relief from digestive discomforts such as heartburn and indigestion. Its properties make it suitable for various industrial and medicinal applications.
Mg(OH)2
Flame Retardant, Automotive Production, Wastewater Treatment, Antacid
Martin Marietta Materials Ltd, Tateho Chemical Industries Co Ltd, Nedmag B.V., Xinyang Mineral Group, Osian Marine Pvt Ltd, Timab Magnesium SAS, Premier Magnesia LLC
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