China Nonferrous Metals News
Domestic magnesium prices rebounded strongly after the Chinese New Year holiday following rising commodity prices and tightening spot supply at smelters. As of 26th February, mainstream domestic magnesium prices had risen to RMB15,300~15,500/t ex-work with taxes. In Wenxi Shanxi, prices lifted by RMB800~1,000/t w-o-w to RMB15,600~15,700/t ex-work with taxes.
As of end-February, domestic magnesium prices had risen rapidly by RMB1,300~1,500/t from two weeks ago – before the CNY holiday. Market commentators project domestic magnesium prices to stay strong in the wake of tightening supply.