Asian Metals News
Mainstream domestic magnesium prices have been stable at RMB 20,200~20,500/t this week led by continuing weak demand and smelters had no intention of selling at low prices.
A northern magnesium buyer bought 31 t of magnesium at RMB 19,900/t last Friday and made another deal on Monday for 31 t of magnesium at RMB 20,200/t. With sufficiently supply, the company stopped procurements on Tuesday and noted prices have been stable at RMB 20,200/t during the week. Industrial commentators forecast magnesium prices to remain stable at the low end due to weaker demand and shrinking transactions next week.