China Nonferrous Metals News
As of 30th July, mainstream magnesium ingot prices (99.9% grade) were being quoted at RMB21,000/t in Fugu, Shaanxi, with mainstream transaction prices standing at RMB20,800~20,900/t, up by RMB800~900/t from last week. In Wenxi, Shanxi, magnesium prices were being quoted at RMB 21,000~21,100/t. In July, domestic magnesium prices climbed by RMB800/t m-o-m.
Industry participants forecast domestic magnesium prices will hold stable at the current level over the short-term in view of tightening supply and rising prices of coal and FeSi.