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Tight supply in China likely to drive up magnesium prices

April 22, 2011 - 04:09 GMT Location: Shanghai

Magnesium prices are rising in China due to output cuts and stockpiling by producers waiting for higher prices as supply tightens

Ingot of 99% metal content was trading between 18,200-18,600 yuan ($2,791-2,853) per tonne this week, compared with 18,000-18,200 yuan per tonne last week. Export prices also rose to $3,200-3,250 per tonne fob, compared with 3,150-3,250 per tonne last week. “We have stopped offering export prices today, as prices will definitely rise later,”...

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