Asian Metal News
Mainstream magnesium prices increased by RMB 150/t from last Friday to RMB20,200~20,500/t on Tuesday 16th, boosted by increased restocking activities prior to the Chinese New Year holiday which starts from 9thFebruary 2024.
A magnesium consumer in northern China bought 62 t of magnesium at RMB 20,050/t last Friday, 31 t more at RMB 20,100/t last Saturday and noted the price having lifted to RMB 20,200/t ex-works with taxes this week. A spokesman said, “Magnesium smelters are keen to prop prices in view of increasing restocking activities downstream and elevated production costs led by high semi-coke prices.” Domestic magnesium prices are likely to hold firm this week.
