Asian Metal News
Mainstream domestic magnesium prices bounced back by RMB 200/t from last Friday to RMB 20,400~20,600/t on Wednesday. This reaction was led by increased transactions and increasing trader deals due to the news of semi-coke furnace suspensions which are to begin in late April.
According to a spokesperson from a northern smelter, “We are quoting at RMB 20,500/t ex-works by cash and are holding firm on the quote at present. We sold 120 t of magnesium at RMB 20,300/t on Monday and declined an offer for 62 t of magnesium at RMB 20,400/t on Wednesday”. In view of increasing transactions and vendors’ attempt to shore up prices, industry commentators forecast prices to rise by a further RMB 100/t this week.