China Nonferrous Metals News
Domestic magnesium prices soared on tightening supply this week. As of 13th August, mainstream magnesium quotations were RMB22,300~22,500/t (tax inclusive) in Fugu Shaanxi, with mainstream transaction prices standing above RMB22,300/t, up by RMB1,300/t from the previous week. Following the upward price trend, magnesium transaction prices in other regions climbed, reaching a 13-year high.
Industry commentators forecast domestic magnesium prices will hold firm at high levels next week given tightening supply and low stocks at smelters.