Asian Metal News
Mainstream magnesium price fell by RMB 100/t from last Thursday to RMB 21,200~21,500/t this week. The market appeared flat and buyers were cautious. Industry commentators forecast magnesium prices to continue weak in view of lackluster demand and strong sales interests of venders.
A northern magnesium smelter cut its quotes to RMB 21,200/t today but buyers were uninterested. The company sold 100 t of magnesium ingot at RMB 21,300/t last Friday but market transactions slowed on Monday. The smelter forecast domestic magnesium prices to fall further by RMB 100/t this week.