Shanghai Nonferrous Metals News
13th May: Mainstream magnesium prices (99.9% magnesium ingot) currently stand at RMB13,200/t in Fugu Shaanxi and RMB13,500/t in Wenxi Shanxi, remaining steady from the previous days’ trade.
Despite steady prices, transactions were sparse with most downstream buyers remaining cautious. Market participants project short-term magnesium prices to hold steady due to limited stocks at smelters combined with an already low price level.
