Magnesium Market Report August 2012

Magnesium ingot manufactures, who were reluctant to depreciate previously, have to decrease quotations of the material in order to attract customers to buy due to sluggish demand on domestic and international market at the beginning of August. Mainstream offers of magnesium ingot are at RMB18,400-18,600/t (USD2,920-2,952/t) Ex works in Shanxi, and at RMB18,200-18,400/t (USD2,888-2,920/t) Ex works in Shaanxi.Asian Metal CopyrightMagnesium ingot manufactures, who were reluctant to depreciate previously, have to decrease quotations of the material in order to attract customers to buy due to sluggish demand on domestic and international market at the beginning of August.Asian Metal Copyright However, declined magnesium ingot price has not play a good role on market activity with customers mainly keeping wait-and-see approach. Corresponding prices of the material majorly at the ranged of RMB19,400-19,500/t (USD3,079-3,095/t) Ex works.Asian Metal CopyrightMagnesium ingot manufactures, who were reluctant to depreciate previously, have to decrease quotations of the material in order to attract customers to buy due to sluggish demand on domestic and international market at the beginning of August.Asian Metal Copyright But magnesium market moves slowly with little activity due to relatively sluggish downstream demand. Mainstream prices of magnesium alloy still hold at RMB20,000-20,200/t (USD3,174-3,206/t) Ex works, yet deals remains unfavorable.Asian Metal CopyrightMagnesium ingot manufactures, who were reluctant to depreciate previously, have to decrease quotations of the material in order to attract customers to buy due to sluggish demand on domestic and international market at the beginning of August.Asian Metal Copyright