Asian Metal News
12th May 2021: Domestic magnesium prices soared by RMB800/t from Monday to RMB20,300~20,600/t driven by rising coal and FeSi prices, tightening supply and strong downstream demand. Downstream buyers were active, aiming to mitigate the risk of higher magnesium prices going forward, resulting in ample transactions this week.
It is expected that domestic magnesium prices will continue to rise next week, shored by tightening supply and the bullish attitude of domestic smelters.
