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Lunar New Year Brings Halt to Spot Magnesium Export Trade
Jan. 30, 2014 04:48PM PST
Critical Minerals InvestingPlatts reported that on the eve of the Lunar New Year, spot trade in Chinese magnesium ingot export came to a halt as market participants left work for the holiday.
Platts reported that on the eve of the Lunar New Year, spot trade in Chinese magnesium ingot export came to a halt as market participants left work for the holiday.
As quoted in the market news:
Indicative spot export offers on a FOB basis remained steady around $2,600/mt FOB China this week, unchanged from last week.
Magnesium ingot (minimum 99.8%) was assessed at $2,580-2,610/mt FOB China Thursday, flat from last week.
Chinese magnesium diecast alloy prices were also unchanged at $2,860-2,920/mt FOB China Thursday.
One producer said:
The market is extremely quiet this week as most market participants have gone home for the holiday. I have not heard any spot offers or trades.
