Asian Metal News
The domestic magnesium market remained flat this week led by sluggish demand from titanium sponge producers. Mainstream magnesium prices fell to RMB 27,200~27,500/t (99.95% grade) today, down by RMB 600/t from last Monday.
A magnesium smelter in northern China reduced its quotes to RMB 27,200/t this week and was willing to compromise on RMB 27,000/t for new orders of more than 30 t. The smelter sold 62 t of magnesium at RMB 27,500/t last week. Given continues sluggish downstream demand, domestic magnesium prices are expected to drop by RMB 200/t next week.