Magnesium Market Report September 2016
2016-10-12 18:16:44 【Print】
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In September, the supply of magnesium ingot increased slightly
. In addition, consumers from the downstream magnesium powder, magnesium alloy and aluminum industries kept purchasing the material on rigid demand . Meanwhile, as the overseas buyers came back from summer break and began to purchase the material from hand-to-mouth style, so the market transactions increased accordingly . Fourthly, because of the price up from the upstream ferrosilicon and coal, this lifted the production cost of magnesium ingot. Given these situations, the prevailing magnesium ingot moved up by about RMB700/t (USD105/t) in the first week of September. Among which, the prices went up to RMB14,900-15,000/t (USD2,240-2,255/t) ex works in Shaanxi and RMB15,100-15,300/t (USD2,277-2,307/t) ex works in Shanxi . In the following three weeks of this month, with the purchasing finalized, the market transactions slowed down accordingly and the prices leveled off gradually.