China Nonferrous Metals News
Last week, domestic magnesium prices continued to fall, approaching RMB12,000/t amid ongoing weak demand. As of 18th September, domestic magnesium ingot (99.9%) was quoted at RMB12,150~12,200/t in Fugu Shaanxi, with mainstream transactions closing at RMB12,100~12,150/t. Transaction prices were RMB12,400/t in Wenxi, Shanxi, a fall of RMB200/t from the previous Friday.
In the wake of a surge in coal prices, domestic magnesium smelters face rising production costs. Industry commentators are pessimistic about the market outlook, citing continued depressed demand and rising production costs.