Magnesium Market Report June 2012

In early June, buying activities maintained quiet in magnesium ingot market due to economic downturn.Asian Metal Copyright Mainstream quotations of magnesium ingot stayed at RMB17,000-17,200t USD2,698-2,730t ex works in Shaanxi while at RMB17,300-17,500t USD2,746-2,777t in Shanxi; mainstream concluded prices were at RMB1,7000t ex works or at RMB17,400t USD2,761t by DA payment in Shaanxi while at RMB17,300t ex works or RMB17,700t USD2,809t by DA payment.Asian Metal Copyright However, magnesium ingot output declined due to insufficient gas supply as sales of coke and semi coke kept at a low level.Asian Metal Copyright Hence, magnesium ingot prices kept stable even though demand was dim.Asian Metal Copyright In addition, some plants had stopped production for equipment overhaul, which also drove magnesium ingot output to shrink.Asian Metal Copyright Mainstream quotations of magnesium ingot stayed at RMB17,000-17,200t USD2,698-2,730t ex works in Shaanxi while at RMB17,300-17,500t USD2,746-2,777t in Shanxi; mainstream concluded prices were at RMB1,7000t ex works or at RMB17,400t USD2,761t by DA payment in Shaanxi while at RMB17,300t ex works or RMB17,700t USD2,809t by DA payment.Asian Metal Copyright Hence, magnesium ingot prices kept stable even though demand was dim. Mainstream quotations of magnesium ingot stayed at RMB17,000-17,200/t (USD2,698-2,730/t) ex works in Shaanxi while at RMB17,300-17,500/t (USD2,746-2,777/t) in Shanxi; mainstream concluded prices were at RMB1,7000/t ex works or at RMB17,400/t (USD2,761/t) by D/A payment in Shaanxi while at RMB17,300/t ex works or RMB17,700/t (USD2,809/t) by D/A payment.Asian Metal CopyrightIn early June, buying activities maintained quiet in magnesium ingot market due to economic downturn.Asian Metal Copyright