Magnesium Market Report August 2014
2014-09-15 18:26:59 【Print】
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It is the traditional off-season for magnesium market in August with scarce deals and prices stabilized after initial decrease over the month. Very few deals were concluded in magnesium ingot market due to sluggish demand early this month and prices tumbled marginally, similar to the downtrend in late July. Prices have been down by about RMB150/t (USD24/t) as of August 10th. In the middle of, and late August, magnesium ingot prices remained flat. The production cost of magnesium increased due to higher salaries for workers in summer and tight supply kept ferrosilicon prices firm in summer months. In addition, magnesium ingot prices have already bottomed out and could not go down further. As a result, plants endeavored to hold prices in spite of stagnant deals in magnesium ingot market.
