[Ferro-alloys.com] Mg producers kept normal production, even some Fugu-based producers were at full capacity, which meant there were excessive spot supply of magnesium ingots. The lowest quotation for non-pickling Mg ingot 99.90% reached RMB14,250/mt and highest one was RMB14,350/mt, ex-work tax-inclusive price in cash in Shaanxi’s Fugu county. Mainstream Shaanxi Mg99.90% price was RMB14,250-14,350/mt(USD2,328-2,345/mt), non-pickling ex-work tax-inclusive price in cash.

Magnesium ingot prices were seen with decrease in China, export market of Chinese magnesium declined a bit. Chinese magnesium ingots were mainly exported to the EU market. Export price of magnesium ingot 99.90% remained USD 2,420-2,480/mt, FOB at Tianjin port. European magnesium ingot 99.90% declined to USD 2,570-2,620/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: Supply of magnesium ingots remained enough and demand seemed poor, thus indicating market prices of magnesium ingots were likely to fall further but with some limits.

• [Editor:Phillip.Feng]