Asian Metal News
Mainstream magnesium prices currently stand stable at RMB 24,900~25,200/t, up by RMB 200/t from last Friday following increased FeSi prices and smelters’ strong will to prop prices. In anticipation of strong raw material prices and relatively stable demand, industry commentators forecast domestic magnesium prices to continue firm at the current level next week.
A northern magnesium smelter sold 100 t of magnesium ingot at RMB 25,000/t on Monday, 300 t at the same price on Wednesday and intends to make more sales at the current price level. In view of rising FeSi prices and tightening supply, led by increasingly stringent pandemic control measures in conjunction with strong coal prices and increasing difficulties in securing dolomite supply, the smelter intends to hold firm on prices and may make tentative attempts to raise prices.