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    magnesium investing

    Lunar New Year Brings Halt to Spot Magnesium Export Trade

    Charlotte McLeod
    Jan. 30, 2014 04:48PM PST
    Critical Minerals

    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.

    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.

    Click here to read the full Platts report.

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