[Ferro-alloys.com]This week magnesium ingot market ran low in China, partly due to safety inspection on magnesium powder and aluminum magnesium alloy producers throughout the country. Mainstream Shaanxi Mg99.90% price declined to RMB14,400-14,500/mt(USD2,338-2,354/mt), non-pickling ex-work tax-inclusive price in cash, lower than last week.

Chinese magnesium ingots were mainly exported to the EU market. Export market of magnesium ran smoothly. Export price of magnesium ingot 99.90% remained USD 2,480-2,520/mt, FOB at Tianjin port. European magnesium ingot 99.90% remained USD 2,650-2,700/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: Market prices of magnesium ingots approximated production cost in Shaanxi, China and local magnesium producers had low inventory. Next week purchases of magnesium ingots were likely to become more and market prices of magnesium ingots were expected to rise later in China.

• [Editor:Phillip.Feng]