Platts Lowers Magnesium Price Assessment on Weak Demand

Platts has lowered its magnesium ingot price assessment to $2,120-$2,160 per metric tonne FOB from China on Thursday, down from $2,120-$2,180 per metric tonne. The change is based on weaker buying at Chinese ports and lower domestic prices.
As quoted in the publication:

The Chinese magnesium die-cast alloy price assessment was also lowered to $2,400-$2,440/mt FOB China from $2,400-$2,480/mt last week.
“After weeks of holding steady at the floor price of Yuan 13,000/mt ($2,094/mt) ex-works, the domestic price finally gave in to pressure from weak demand and slipped to Yuan 12,900-Yuan 13,320/mt,” said a north China-based analyst.
The lower end of the range was for offers from Shaanxi, while the higher end was for Shanxi. Shaanxi has lower production costs than Shanxi.
In April, producers in Shaanxi collectively set a floor price of Yuan 13,000/mt ex-works to lift prices on the persistent weakness in demand.

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