Asian Metals News
Domestic magnesium transactions were on the rise after prices stopped falling and stabilized on Monday, 2nd May. With buyers becoming more active, mainstream magnesium transactions prices stood at RMB 35,000~36,000/t, continuing stable from late last week, but down by RMB 2,000/t from last Monday. Some Shaanxi smelters held firm at RMB 38,000/t.
Industry insiders forecast domestic magnesium prices to keep stable over the short term, given smelters’ strong stance to shore up prices on ample orders.