Magnesium price increases again in India
2006-08-14 09:23:42 【Print】
BEIJING (Asian Metal) 14 Aug 06 – With Chinese suppliers insisting on keeping FOB price high, sources in India reported deals are being concluded at around USD1,900-1,920/t CIF Mumbai port, while last week the price was USD1,880-1,900/t CIF Mumbai port.
A source who concluded deals last week at USD1,885/t CIF Mumbai port said demand is stable despite slow down from the western world and the price increase of magnesium reverberates suppliers intention of keeping the price high till end of the quarter.
The source who got quotation two days ago at around USD1,935/t CIF Mumbai said suppliers are saying the material is scarce so keep pulling the price up, but he claimed his customers are not complaining about the price, however he is not ready to buy at this price
Looking at the way the price is moving, sources feel the price might remain stable at this level because if it goes up further, it might be too high for consumers to accept, but some of the participants are worried that the coming back of the European consumers might push the price up.
