Export Offers for Chinese Magnesium Dip on Dampened Interest

According to Platts, spot export offers for Chinese magnesium ingot (FOB) experienced a dip in trading, largely due to weak interest from overseas buyers.

As quoted in the publication:

Offers on a FOB basis were heard at $2,450-2,550/mt, but sources generally agreed that tradable offers remained below $2,500/mt.

Platts lowered its weekly magnesium ingot (minimum 99.8%) price assessment to $2,450-2,480/mt FOB China Thursday, down from $2,470-2,490/mt last week as bids and offers were heard lower.

One northwest China-based producer, who usually favours spot deals, told Platts:

We have inquiries from Europe but they want delivery in January, which is too far ahead. At the same time, they are asking below our offers at $2,450/mt.

Click here to read the full Platts report.