Asian Metal News
Domestic magnesium prices fell further by RMB 300/t from Monday and RMB 600/t w-o-w to RMB 23,600~24,000/t on Friday led by continued sluggish demand, fierce price competition and weaker FeSi prices during the week.
A northern magnesium smelter sold 100 t of magnesium at RMB 24,000/t early this week. It cut its quotation to RMB 23,600/t after the trade but has concluded no deals since then. According to an inside source, “Downstream buyers pressed hard on magnesium prices as FeSi prices dropped by RMB 300/t to RMB 7,900/t and coal prices fell by RMB 50/t this week. Magnesium prices are expected to drop further by RMB 200/t next week considering still lackluster demand.”, said the source.
