China Nonferrous Metals News
Weakening downstream demand pushed magnesium prices down to RMB 34,000/t at the beginning of last week. However, the news of magnesium ‘stockpiling’ suppressed the trend and has propped magnesium prices since last Wednesday.
As of 22nd April, mainstream magnesium prices were being quoted at RMB 38,000/t FOB in Fugu Shaanxi, with transaction prices at RMB 37,000~38,000/t, up by RMB 3,000/t from a recent low point. Other magnesium producing regions also raised their quotations. Industry commentators forecast domestic magnesium prices to remain stable over the short term given producers’ strong will to prop prices and limited liquidity pressures.