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Mg Price Dropped in Early March in China

Source: Time:2014-03-07 08:42:31 views:

Mg price had kept unchanged for almost two months, while it began to drop in early March. One sales manager of a Shaanxi producer said the price range for Mg 99.90% was RMB14,800-14,900/mt(USD2,408-2,424/mt, export duty not included), which was non-pickling tax-inclusive price in cash and the acceptance price was around RMB15,200/mt(USD2,473/mt), down by RMB200/mt(USD33/mt). Producers generally held not much inventory.
Export market was not very active and magnesium ingot 99.90% price dropped for exports. The mainstream export price of Mg99.90% ranged from USD2,520/mt to USD2,580/mt,FOB at Tianjin Port. Affected by the long Spring Festival, export volume of magnesium ingot was expected to experience great drop in February, compared with January, this year. Steel mills had markedly cut purchase price of ferrosilicon for March delivery and magnesium market seemed gloomy through March.
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