China Nonferrous Metals News
As of 3rd August, mainstream magnesium ingot prices fell by RMB 300/t from 29th July to RMB 22,500~22,600/t by cash (ex-work with taxes) at Fugu Shaanxi. Prices in other major producing regions followed the trend and slid slightly. Looking forward in August, orders from downstream producers remain flat, mainly driven by fixed demand.
An increasing number of domestic smelters have halted operations and started maintenance, resulting a larger cut in monthly production. However, with ample supply of magnesium ingot and lackluster demand, industry commentators project prices to continue stable at the low end over the short-term in consideration of shorter supply led by increasing maintenance.