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Mg Market Likely to Remain Depressed Before the New Year

Source: Time:2013-12-21 09:26:15 frequency:

The Mg market saw a slight sign of good promise in China in early December when magnesium price stopped falling and began to rise a little. However, magnesium price was again falling in mid December. According to magnesium producers, most kept normal production and not many spot materials, but the buyers were generally bring down the purchase price, which forced producers to lower their quotations. Shaanxi non-pickling Mg99.90% was lowered to RMB15,000-15,200/mt(USD2,466-2,499/mt, export duty not included). Many producers thought the market would not get better before the New Year.
Export market was still depressed. Magnesium exporters said there were some enquiries but few dealers would actually buy the materials. Furthermore, legal exports affected by materials without value-added tax were deprived of price advantage. Mg99.90% was USD2,560-2,620/mt FOB at Tianjin port
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