Shanghai Nonferrous Metals News
20th February 2021: Mainstream magnesium ingot (99.9% grade) prices lifted to RMB14,000~14,200/t in Fugu Shaanxi, with some transactions concluded at RMB14,200/t.
According to internal sources, most small smelters have orders for the futures market through to end-February, while large smelter are under long-term contracts, resulting in limited magnesium ingot on the spot market. Market participants project domestic magnesium prices to trend up further over the short term.
