China Nonferrous Metals News
After a price hike led by news of suspensions of semi-coke furnaces two weeks ago, domestic magnesium prices dropped rapidly to RMB 25,000~27,000/t in Fugu Shaanxi last week. This represents a sharp fall of RMB 3,000~5000/t from the high point, however no actual implementation was carried out.
Industry commentators forecast domestic magnesium prices to continue stable at the current level over the short term as semi-coke furnace retrofitting will be carried out some time in 2023 and smelters are keen to prop prices.
