Asian Metal News
Domestic magnesium prices increased slightly this week as downstream buyers returned to the market after the Chinese New Year holiday. Mainstream magnesium prices currently stand at RMB 42,500~43,000/t today, holding stable form Monday. Some smelters have tentatively raised their quotes, driven by concerns about whether existing semi-coke making equipment will be phased out going forward and are, consequently, causing a supply crunch.
Industry commentators forecast domestic magnesium prices to stay firm and are likely to trend up backed by stable orders.