China Nonferrous Metals News
Domestic magnesium prices soared by approximately RMB800/t from last week to average RMB22,000/t driven by rising coal and FeSi prices, tightening supply and strong downstream demand. As of 14th May, 99.9% grade mainstream primary magnesium ingot transaction prices climbed to RMB21,500~21,800/t in Fugu, Shaanxi and RMB21,000~22,000/t in Wenxi Shanxi.
It is expected that domestic magnesium prices will continue to rise next week, albeit with slower growth.
