Asian Metal News
Mainstream magnesium export prices have been stable at USD 3,360~3,410/t FOB China with taxes or USD 3,330~3,380/t FOB China without taxes, holding stable from early this week. In view of weak demand on the global market and stagnating domestic magnesium prices, industry commentators forecast magnesium export prices to remain stable at the current level next week.
A northern magnesium exporter reported domestic magnesium prices at RMB 21,400/t (USD 3,170/t) ex-works without taxes by cash with tightening supply, so export prices have been quoted at USD 3,300/t FOB China without tax. According to an internal source, “We sold 20 t of magnesium at USD 3,330/t FOB China last week, and concluded a 100 t deal at USD 3,290/t FOB China for shipment in March 2023. We expect prices to keep stable at the current level next week given steady domestic prices”.