[Ferro-alloys.com] This week magnesium ingot market began to slightly improve in China, partly owing to the firm prices and tight supply of ferrosilicon- one major raw material. Mainstream Shaanxi Mg99.90% price improved to RMB14,450-14,500/mt(USD2,353-2,361/mt), non-pickling ex-work tax-inclusive price in cash, slightly higher 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. Indian Mg99.90% was traded from USD2,500/mt to 2,520/mt CIF at Indian ports. 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: Last week market prices of magnesium ingots had hit production cost in Shaanxi China and local magnesium producers had low inventory. Consumers were seen with more active purchases before the end of August in China and European dealers would gradually return to the market in September. Mg ingot prices were expected to rise a bit in early September. 

• [Editor:Phillip.Feng]