Shanghai Nonferrous Metals News
5th June, SMM: Domestic magnesium prices remained stable this week. Mainstream magnesium transaction prices were RMB13,050~13,100/t in Fugu Shaanxi and RMB13,300~13,400/t in Wenxi Shanxi.
Domestic magnesium supply has been in decline with the beginning of the maintenance season planned each year. Domestic smelters hold limited stocks, downstream buyers have no restocking plans and traders are working only on available orders at present. Downstream buyers’ fixed demand will determine market transactions in the short-term.
SMM analysts take the view that domestic magnesium prices will remain stable on shrinking supply and smelters’ strong will to prop prices in the short- term.