China Nonferrous Metals News
1st July: Mainstream domestic magnesium prices in Fugu Shaanxi dropped to RMB 24,700~24,800/t ex-work with taxes by cash and prices in Wenxi Shanxi fell by RMB 300/t w-o-w to less than RMB 25,000/t.
Most domestic magnesium smelters are operating close to their breakeven levels and are keen to shore prices up, backed by elevated production costs and contracting operations amid harsh summer heat. Domestic magnesium prices are expected to be fluctuate at low levels this week.
