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Chinese Magnesium Market Rapidly Heats up
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With a pickup in demand, magnesium market in China is rapidly heating up. Production is unable to keep pace with demand, while some buyers want to take this material in a large quantity, said a Ningxia-based smelter. And another smelter in the province of Shanxi said that many producers are seeking transformation due to lack of competitiveness, resulting in low level of inventories. The current tags of magnesium ingot (Mg99.9% min) are set higher at RMB16,100-16,700/mt (USD2,596.8-2,693.5/mt, EXW, export duty excluded).
By comparison, export business seemed to be tough. This material is mainly offered at USD2,930-3,000/mt FOB, while some exporters said that the tags should be above USD3,000/mt FOB including all the operation costs. However, overseas customers hesitate to take current offers. (Zoe)
Source: Ferro-alloys.com
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