Mg Transactions Slow since Wednesday
27/04/23 | Magnesium
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…
138.3 kt of Mg Production at Yulin, Shaanxi
27/04/23 | Magnesium
Shanghai Nonferrous Metals News Yulin Shaanxi had a stable beginning to 2023, with Q1 2023 production of primary aluminium at 155.4 kt, primary aluminium at 138.3 kt, polycrystalline silicon at 4.52 kt, ferroalloy at 324 kt and semi-coke at 8.29 mln t.
Domestic Mg Prices Fall
25/04/23 | Magnesium
China Nonferrous Metals News After a price hike led by news of suspensions of semi-coke furnaces two weeks ago, domestic magnesium prices dropped rapidly to RMB 25,000~27,000/t in Fugu Shaanxi last week. This represents a sharp fall of RMB 3,000~5000/t from the high point, however no actual implementation was carried…
Domestic Mg Prices on the Decline
21/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices fell sharply by RMB 1,000/t from last Friday and have been lingering around RMB 26,500~26,800/t this week led by slowing procurement activities and fierce price competition among smelters. Buyers have been cautious with few transactions this week, and in view of weakening demand…
China Mg Production at 66 kt in March
13/04/23 | Magnesium
Shanghai Nonferrous Metals News China produced 66 kt of magnesium in March 2023, down by 3.8% m-o-m and down by 24% y-o-y. During Q1 2023, China produced 199 kt of magnesium, a sharp fall of 21% y-o-y. Domestic magnesium prices continued to be weak during March driven by sluggish demand,…
Domestic Mg Prices Rebound Slightly
12/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices lifted rapidly by RMB 300/t from Monday to RMB 22,000~22,300/t on Tuesday driven by panic buying – caused by worries of supply deficit and vendors’ strong will to shore prices. Industry commentators forecast prices to climb further this week. A northern buyer noted…
Domestic Mg Prices Rebound Slightly
06/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices bounced back by RMB 200/t from last Friday to RMB 20,400~20,600/t on Wednesday. This reaction was led by increased transactions and increasing trader deals due to the news of semi-coke furnace suspensions which are to begin in late April. According to a spokesperson…
Mg Transactions Slow
31/03/23 | Magnesium
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…
Domestic Mg Prices Rebound from Low-end
29/03/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices rebounded by RMB 300/t from last Friday to RMB 20,200~20,500/t on Monday as several domestic smelters cut or suspended operations last week, however, with continued lackluster demand, transaction were sparse. Industry participants expect prices to remain stable at the current level until this…