Asian Metal News
Mainstream magnesium prices lifted by nearly RMB 1,500/t on Monday to RMB 23,500~23,800/t Wednesday. Most buyers tried to complete restocking this week before the Labor Day holiday, but transactions have begun to slow since Wednesday.
A northern smelter sold 100 t of magnesium at RMB 23,500/t on Tuesday, down from a previous deal of 31 t at RMB 24,000/t. A company spokesperson said, “Most buyers have completed their pre-holiday procurement over the past few days and transactions slowed significantly since Wednesday. We forecast magnesium prices to keep stable at the current level next week”.