Asian Metal News
Mainstream magnesium prices dropped moderately by RMB 100/t from last Friday to RMB 21,600~21,900/t ex-works by cash this week, driven by weaker prices of coal and FeSi together with sluggish demand.
A northern smelter sold 100 t of magnesium at RMB 21,800/t (ex-work by cash) last Tuesday and reduced the offer to RMB 21,600/t this week. According to an internal source; “Downstream buyers are bearish on price prospects amid falling prices of coal and FeSi, magnesium prices are likely to fall further by RMB 200/t over the short term”.
