China magnesium price rises on active purchasing, higher production costs

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.
Market sources told Fastmarkets that exporters had actively purchased the metal in the past week because cargoes need to be loaded on vessels by the end of October so they arrive in Europe before the Christmas holiday.

"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...

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