China's domestic magnesium price dived in the week to Friday October 29, with the market responding to declining upstream coal prices amid the country's attempts to stabilize prices and supply of the energy feedstock.
Fastmarkets' weekly price assessment for magnesium, 99.9%, exw China, was 35,000-36,000 yuan ($5,466-5,623) per tonne on Friday October 29, a decrease of 11,000 yuan per tonne (23.7%) from 46,000-47,000 yuan per tonne a week earlier.In late October, the Yulin municipal government urged local state-owned coal mines to lower thermal coal prices by 100 yuan per tonne and...