Enquiries for Mg ingot increased

BEIJING (Asian Metal) 14-Jan-05. The enquiries from foreign buyers increased a lot due to the shutdown of Christmas Holiday, Chinese suppliers have told Asian Metal.Asian Metal CopyrightAccording to him, the company can get magnesium ingot at rmb15,300-15,400t from Shanxi-based smelters now.Asian Metal Copyright However, only few deals were reported to conclude recently.Asian Metal Copyright The enquiries from foreign buyers increased a lot due to the shutdown of Christmas Holiday, Chinese suppliers have told Asian Metal.Asian Metal Copyright

"Compared with the quiet spot market in the past one month, many foreign traders began to show some interest in purchasing magnesium ingot," said a trader in Hebei province, revealing that the the enquiries from foreign buyers evidently increased, while the company only exported few magnesium ingot.

According to him, the company can get magnesium ingot at rmb15,300-15,400/t from Shanxi-based smelters now. "The best bid we got from foreign buyers was $1,710/t FOB, while the material is generally exported at $1,700/t FOB," he added.Asian Metal CopyrightMeanwhile, a Shanxi-based trader confirmed that many foreign buyers are enquiring magnesium ingot now, while only few buyers placed orders.Asian Metal Copyright

Meanwhile, a Shanxi-based trader confirmed that many foreign buyers are enquiring magnesium ingot now, while only few buyers placed orders.

Chinese suppliers believed that more foreign buyers would place orders in the following weeks, and that would push magnesium ingot export prices up to a higher level.