China Nonferrous Metals News
Domestic magnesium prices rebounded slightly this week, driven by increasing environmental pressures. As of 9th July, mainstream magnesium ingot prices (99.9% grade) were being quoted at RMB19,300~19,400/t in Fugu, Shaanxi, with mainstream transaction prices standing at RMB19,300/t. In Wenxi, Shanxi, magnesium prices were being quoted at RMB 19,500~19,600/t.
Domestic magnesium production is expected to drop over the short term in consideration of increased maintenance at smelters during summer as well as increased environmental pressures. In addition, the production cost is expected to drop with a moderate retreat in coal prices and steady FeSi prices. Industry participators forecast domestic magnesium prices will hold stable at the current level over the short term.