China Nonferrous Metals News
Domestic magnesium prices rebounded rapidly during the first week of June driven by increasing demand together with rising FeSi prices caused by policy-led smelter suspensions in Ningxia. As of 4 June, mainstream magnesium ingot prices (99.9% grade) were being quoted at RMB19,100~19,200/t, with mainstream transaction prices standing at RMB19,000~19,100/t. In Wenxi, Shanxi, magnesium prices were being quoted at RMB19,200~19,300/t, rising by RMB1,200/t w-o-w.
In view of rising raw material costs, limited magnesium stocks and continued lackluster demand, industry commentators forecast domestic magnesium to remain at the current level next week.