Magnesium Market Update (April 26, 2012)

Magnesium’s price has held steady in recent weeks, with US spot pure magnesium range bound between $2.00 and $2.15 a pound in the week ended April 20. The range is down from the same period a year ago, when the metal traded between $2.35 and $2.50 a pound.

Slow trading over the past few weeks is seen as a result of consumers sitting on the sidelines and operating largely on contracted deliveries. Looking ahead, investors’ appetite for magnesium is likely to rise, and companies are beginning to prepare for that increase in advance.