Magnesium prices tend to fall in European market

BEIJING (Asian Metal) 10 Jul 06 – Magnesium market being quiet in the international market brought the feeling that the metal price has been on the rock and some sources saw price dropping this week by USD20/t.

"At the end of last month we didn't conclude any deal because of the rumor that the remaining 5% export rebate will be removed but this week the price has started to ebb." said a European source. "We got offers today at the range of USD1,830-1,900/t CIF Rotterdam.Asian Metal Copyright"The source attributed the low export volume of magnesium from China to the fact that the price was left hanging so high thus waving consumers out of the market.Asian Metal Copyright"

The source attributed the low export volume of magnesium from China to the fact that the price was left hanging so high thus waving consumers out of the market.

"Export volume of Magnesium dipped by 13% in the first five months in 2007 which is as a result of high position of magnesium price but I guess it is going to drop now", explained the source.

Magnesium price is stable at around USD1,900/t in warehouse Rotterdam, the source thinks any price reduction might not affect the market now until around August or September.

Magnesium in USA is very quiet now and one of the producers who used to export to USA said they have stop selling materials although they got few inquiries due to the price which is around USD1,750-1,800/t in the free market.