Asian Metals News
News released from MEE (Ministry of Ecology and Environment) on 22nd December, regarding environmental issues arising from the phase out of obsolete semi-coke capacity in Yulin, Shanxi has stirred the market with concerns of semi-coal/magnesium supply problems going forward.
In response, domestic magnesium prices soared on 22nd December, Wednesday, lifting to RMB 47,000~50,000/t ex-works by cash today, up by RMB 8,000/t from Monday 20th December. As of today, no further details regarding any retrofit/rectification plans for semi-coke producers had been released, so market participators remain watchful. In anticipation of shrinking supply and uncertainties around semi-coal production, domestic magnesium prices are expected to remain strong this week.
