High supply, low demand put pressure on China's magnesium prices

China's domestic magnesium prices softened in the past week on high supply, a lack of local demand and a subdued overseas market despite a gradually recovering world economy.

Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,500-12,600 yuan ($1,827-1,841) per tonne on Friday September 4, down by 100 yuan per tonne from 12,600-12,700 yuan per tonne a week earlier. This also marked a third week of decreases.
The decrease - the third in as many weeks - sent China's magnesium prices to their lowest in more than four years. The last time prices were at similar levels was in March 2016.

Sources told Fastmarkets that the magnesium market was in a downtrend and that prices were likely...

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