China Nonferrous Metals News
As of last Friday, mainstream magnesium prices at Fugu Shaanxi were being quoted at RMB 36,000/t (ex-work by cash with taxes) with mainstream transaction prices at RMB 35,000~36,000/t, rebounding by RMB 3,000/t from a low point a week ago. Following the price uptick, magnesium prices in other producing regions rose as well.
A surplus outlook and shrinking downstream demand are weighing on magnesium prices; however smelters are keen to prop prices amid policy uncertainties regarding retrofitting and repurposing of semi-coke furnaces. Industry commentators project domestic magnesium prices to keep stable at the current level over the short term.