Asian Metal News
Mainstream domestic magnesium prices rebounded by RMB 300/t from last Friday to RMB 20,200~20,500/t on Monday as several domestic smelters cut or suspended operations last week, however, with continued lackluster demand, transaction were sparse. Industry participants expect prices to remain stable at the current level until this weekend.
A northern smelter sold 62 t of magnesium at RMB 20,300/t and an additional 31 t at RMB 20,350/t on Monday. It failed to conclude a 60 t deal at RMB 20,300/t on Tuesday, with a spokesman saying, “We expect prices to keep stable this week in view of tepid demand and cautious buyers”.