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    magnesium investing

    Little Interest from Overseas Buyers for Spot Export Trades

    Investing News Network
    Jan. 31, 2013 09:51AM PST
    Critical Metals

    Platts reported that spot export trades for Chinese magnesium ingot on a FOB basis were fairly quiet, with little interest from overseas.

    Platts reported that spot export trades for Chinese magnesium ingot on a FOB basis were fairly quiet, with little interest from overseas.

    As quoted in the market report:

     A south central China-based trader said: “Despite the removal of the 10% Chinese export tax on magnesium ingot, the European buyers are still somehow unmoved. Perhaps, they still want to take some time to observe the market since the tax removal has only been effected in January and trade is slowing down due to the upcoming Lunar New Year holidays. I expect them to be out in the market, looking to buy after the holiday. Whatever stocks they have on hand would have depleted by then.

    To view the whole Platts report, click here. 

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