Asian Metal News
Mainstream domestic magnesium prices fell by RMB 400/t from last week to RMB 24,100~24,400/t, resulting in increased transactions this week. Given weaker prices and strong production costs, domestic smelters have tended to halt fierce price competition and hold their prices steady. Industry commentators forecast domestic magnesium prices to stop falling and to continue stable at the current level next week.
A northern magnesium consumer bought 62 t of magnesium at RMB 24,300/t on Monday and purchased 100 t more on Wednesday when prices dropped to RMB 24,100/t. The smelter expects prices to hold stable next week.