Asian Metal News
Mainstream magnesium prices fell by RMB 350/t to RMB 20,850~21,100/t ex-works on Thursday, led by tepid demand. Looking forward to next week, industrial commentators forecast prices to stop falling following improved demand.
A northern smelter sold 62 t of magnesium ingot at RMB 21,300/t last Thursday, an additional 31 t at RMB 21,000/t this Monday and is holding firm at RMB 21,000/t at present. A company representative said, “Prices are likely to keep stable at the current level next week with emerging new orders.”
Another northern smelter sold 31 t of magnesium ingot at RMB 20,900/t on Tuesday and an additional 31 t to a regular buyer at RMB 20,800/t on Wednesday. “Prices are expected to keep stable next week as we have limited stocks and have a low operational rate during summer.”