China Nonferrous Metals News
Domestic magnesium prices recently rebounded slightly by RMB 100~200/t. As of 11th January, primary magnesium ingot (99.9% grade) was being quoted between RMB 16,400 ~16,500/t in Fugu Shaanxi, RMB 16,600 in Taiyuan and RMB 16,700/t in Wenxi Shanxi.
At present, the majority of domestic smelters are short of spot inventory and it is the last re-stocking week for downstream buyers in the lead up to Chinese New Year (5th February, 2019). As a result, market commentators forecast domestic magnesium prices to lift further this week.