Magnesium Market Update (June 21, 2012)

Global appetite for magnesium remains largely unchanged, with Metal-Pages reporting that US magnesium min 99.9 percent traded in a range of $2.00 to $2.20 a pound during the week ended June 19. Market analysts expect the metal to remain range-bound over the next several weeks as trading slows down during the summer season.

In the longer term, magnesium prices are expected to climb amid steady progress in developing more energy-efficient cars that use magnesium.

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MGX_Minerals-logoMGX Minerals Inc. (CSE:XMG) is targeting development of its magnesite prospects with their flagship project being Driftwood Creek magnesite property in British Columbia. Connect with XMG to learn more.

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