Asian Metal News
Domestic magnesium prices fell by RMB 400/t from last Friday to RMB 21,300~21,800/t ex-work by cash this Monday, with the market appearing slow with weak demand and cautious buyers.
One downstream buyer in northern China has received quotations at RMB 21,500/t ex-works by cash, but in view of having access to sufficient stocks and in anticipation of falling prices the buyer has decided to turn down any prices higher than RMB 21,000/t. Domestic magnesium prices lifted to RMB 22,000/t last Thursday, but transactions were few. In anticipation of weaker demand and smelters’ strong will to sell, industry commentators forecast domestic magnesium prices to fall by RMB 200/t this week.