China Nonferrous Metals News
As of 28th August, domestic magnesium ingot was being quoted at RMB12,650/t in Fugu Shaanxi with mainstream transactions closing at RMB12,600~12,650/t, down by RMB100/t from the previous Friday. Prices for ingot in other major producing areas followed the downward trend. To date, domestic magnesium prices have slumped to the lowest level since April 2016.
Domestic magnesium smelters are grappling with problems of production costs over prices. With continued depressed demand, smelters must focus on cost control to mitigate losses.