Asian Metal News
The domestic magnesium market appears flat with limited transactions this week, seeing prices at RMB 21,900~22,200/t ex-works by cash, holding stable w-o-w. Industry commentators forecast prices to keep stable at the current level next week with a moderate rebound in transactions.
A northern smelter quoted at RMB 22,200/t ex-works by cash this week, but failed to conclude the deal as the buyer was looking at RMB 21,900/t. The smelter sold 100 t of magnesium at RMB 22,200/t late last week and 100 t at RMB 21,900/t early last week. It typically make sales of 500 t per week before January 2023. The smelter projects magnesium prices to keep stable at low levels this week.