Magnesium Market Report May 2012
2012-06-05 14:53:46 【Print】
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With the entering of May, most downstream held a wait-and-see stance with little interest in booking and most planned to return to the market according to the market quotations after May 1st. On one hand, the overall economy remained dim with no power to support the price for magnesium ingot to firm and stable; second, some mills, including domestic traders with confidence on the future market over-estimated the market when continuously rising price occurred, leading to increased stocks. Thus, on the whole, the stocks for the material remained high. Moreover, some magnesium ingot mills planned to increase the production in May, which was an indication of overall rising supply. The demand kept not so strong, leading to noted wait-and-see stances home and abroad. Prevailing prices for the material focused in the RMB17,200-17,400/t (USD2,730-2,761/t) Ex works range in Shaanxi currently and at RMb17,500-17,600/t (USD2,777-2,793/t) Ex works in Shanxi.
