China's domestic magnesium prices rebounded above 30,000 yuan ($4,702) per tonne on Friday November 12 after dropping toward 28,000 yuan per tonne earlier in the week, according to sources.
Fastmarkets' assessment of magnesium, 99.9%, exw China was 32,000-33,000 yuan per tonne on Friday, an increase of 1,000 yuan per tonne, or 3.2%, from 31,000-32,000 yuan per tonne a week earlier.
Domestic spot trading of magnesium has been inactive since October amid the restoration of power supply and lower coal prices, according to sources.
Many market participants chose to stay out of the market, waiting for cheaper magnesium...