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.