Asian Metals News
14th July: China’s magnesium exports slowed during the slack season, seeing prices fall to USD 3,770~3,840/t FOB China with taxes or USD 3,600~3,650/t FOB China without taxes, down by USD 20/t from last Thursday.
One northern magnesium trader reported no deals this week, the last being a transaction of 100 t magnesium export at USD 3,620/t (FOB China without taxes) at the beginning of July. Today, the trader is considering reducing prices to USD 3,590/t (FOB China without taxes) for transactions of more than 20 t each. In view of a bearish market during the summer break, the trader expects magnesium export prices to drop further by USD 20/t next week.