- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
A brief overview of magnesium price developments, supply and demand and significant market movers.
Magnesium prices are flat in thin trading after Chinese New Year celebrations. In China, 99.9-percent min magnesium ingot traded unchanged from last week, between 16,800 and 17,300 renminbi (US$2,690 and $2,770). The price for low-magnesium, battery-grade mischmetal was also flat at 150,000 to 160,000 renminbi (US$24,024 to $25,626) per metric ton (MT).
“Some consumers have returned from holiday and are opting to use stocks instead of taking in material,” a producer from Shanxi province told Metal-Pages.
An exporter said overseas buyers are also holding off, having concluded orders before the holiday, “so they are not eager to enter the market.”
China’s magnesium alloy exports fell 7 percent in 2012, to 92,318 MT, as per official data cited by Metal-Pages. The country produced 734,000 MT of primary magnesium last year, according to the China Nonferrous Metals Industry Association.
In Europe, the debt crisis has put a damper on the economy and buyers have been cautious despite China’s cancellation of its 10-percent export tax at the start of the year.
Prices are flat from a week ago, trading in a range between $2,900 and $2,965 per MT. They show little sign of reversing the downward trajectory they have been on since they traded as high as $3,350 per MT in November and early December.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.