Asian Metal News
Mainstream magnesium prices held stable from last Friday at RMB 25,200~25,400/t, but after a busy trading period last week, transactions fell rapidly this week. Domestic smelters are considering lower offer prices to facilitate sales. In view of easing concerns on supply shortages driven by semi-coke furnace retrofitting, industry commentators forecast domestic magnesium prices to slide slightly this week.
A northern smelter sold 100 tonnes of magnesium at RMB 25,300/t last Thursday but reduced its prices by RMB 100/t to RMB 25,200/t this week. The smelter projects prices to fall further by RMB 200/t this week as downstream buyers are no longer keen to restock as the worries about semi-coke retrofitting diminish.