Asian Metal News
Mainstream magnesium prices fell slightly by RMB 200/t to RMB 23,800~24,100/t this week led by sluggish demand. In anticipation of continuing weak demand and smelters strong will to make sales, industry commentators forecast domestic magnesium prices to trend down slightly this week.
A northern magnesium smelter reduced its prices to RMB 23,800/t and sold 31 tonnes this Tuesday, following a deal of 31 t at RMB 23,900 on Monday. It currently holds 2.3 kt of magnesium ingot in stock, up by 600 t from end October. The smelter projects prices to fall further by RMB 200/t this week.