China Nonferrous Metals News
Domestic magnesium prices rose moderately last week driven by rising FeSi prices. However due to continued sluggish downstream demand, high-price level transactions were limited, seeing magnesium prices steady at low-levels after Wednesday last week. As of 19th July, mainstream quotations for magnesium ingot (99.9% grade) were approximately RMB15,700~15,800/t in Fugu Shaanxi; and transaction prices were mainly RMB 15,700/t. In Shanxi Wenxi, magnesium prices climbed by about RMB 200/t from the previous Friday to RMB 15,900~16,000/t.
Domestic magnesium prices are forecast to be steady at low-levels next week given flat orders, limited inventory and increased operational difficulties amid hot summer temperatures.