Asian Metal News
24th August: Domestic magnesium prices fell slightly by RMB 100/t from Monday to RMB 22,700~23,000/t but transactions have been slow since Wednesday as most buyers finished restocking early this week. Industry commentators forecast domestic magnesium prices will continue stable at low levels next week.
A northern smelter was quoting at RMB 22,900/t this week, ready to reduce prices to RMB 22,800/t for large deals over RMB 30 t. According to a company representative, “We sold 30 t of magnesium ingot at RMB 22,900/t on Tuesday, but no deals were concluded until Thursday with most buyers being cautious. Prices are likely to be stable at the current level next week”.