Asian Metal News
Domestic magnesium prices rebounded to RMB 23,900~24,300/t ex-works by cash on Wednesday, up by RMB 200/t on Tuesday. Magnesium smelters were keen to prop prices and downstream buyers were active this week.
A northern smelter received three inquiries and sold 93 t of magnesium at RMB 23,900/t on Wednesday. It sold 31 t more when prices lifted to RMB 24,000/t but declined any offers at the prices level this week. Bullish on prices and market demand, the smelter forecast prices to trend up further next week.