China Nonferrous Metals News
As of 21st May, mainstream magnesium ingot prices (99.9% grade) were being quoted at RMB18,000~18,500/t, with transaction prices sitting at RMB18,000/t. In Wenxi, Shanxi, magnesium prices were being quoted at RMB18,200/t, falling rapidly by RMB3,500/t in a week.
With declining coal prices, domestic magnesium prices are expected to fall further this week, albeit at a slower pace, given strong FeSi prices and limited pressure on stocks at smelters.
