The price of magnesium in China rose in the week to Friday October 16, supported by active purchasing by exporters looking to secure material for month-end deliveries and rising production costs, market sources told Fastmarkets.
Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,300-12,400 yuan ($1,837-1,852) per tonne on October 16, an increase of 200 yuan per tonne (1.6%) from 12,100 -12,200 yuan per tonne a week earlier."As soon as China's National day holiday (October 1-8) ended, exporters who have fourth-quarter orders on hand sped up their purchases of the material. Given that it is difficult to order freight space, the...