Asian Metal News
Domestic magnesium prices slumped by approximately RMB13,000/t last week in the wake of falling prices of coal and FeSi, weaker downstream demand and fierce price competition among peers. This Monday, the sharp downward magnesium price curve eased after falling by RMB3,000/t from last Friday and stabilized at RMB30,000~33,000/t (ex-work by cash). The current price level is close to some smelters’ production costs so they intend to hold firm at this price level.
Industry commentators forecast domestic magnesium prices to drop slightly over the short term.