Asian Metal News

Mainstream magnesium prices stood between RMB 20,000~20,300/t ex-works in cash as of 5th February 2024, continuing stable w-o-w. In view of logistics slowing and aims to increase liquidity ahead of the CNY holiday, some smelters concluded pre-sales with delivery dates scheduled after the holiday.

A spokesperson for a northern smelter observed that there has been a stagnating market since last Friday presented by stalling logistics, saying, “We sold 62 t of primary magnesium at RMB 19,800/t under the pre-sale terms last week, which will be delivered after the holiday.” Industry commentators forecast magnesium prices to stay weak at the current level before and during the CNY period.

CM Group – get out, find out.

Experienced, knowledgeable and welcoming. Take the journey with us.