Magnesium Market Update (July 25, 2013)

Magnesium prices have picked up in China over the past week due to tight supply.

99.9 percent magnesium has increased in price by RMB100/tonne and is now selling between RMB14,600 and 15,100 a tonne, according to Metal-Pages. The publication quotes a source in Saanxi saying that non-existent profit margins after three months of falling prices caused a plat to shut down, while a trader in Northern China said there is insufficient supply in the spot market and producers have increased offers.

In Europe, prices of magnesium min 99.9% were unchanged at between $2,750 and $2,800 per metric tonne, while in the U.S., delivered magnesium was static from the previous period at $1.90 to $2.20 a pound.