China Nonferrous Metals News
Backed by improving demand, domestic magnesium prices stopped falling at RMB 20,800/t last week.
As of last Friday, mainstream magnesium prices in Fugu Shaanxi were being quoted at RMB 21,000~21,200/t ex-works with taxes. With transaction prices between RMB 21,000~21,100/t, prices in other production regions lifted accordingly. However, once prices rebounded to RMB 21,000/t level, downstream restocking activities slowed and industry commentators forecast the price is likely to stabilize at the current level this week.