Russia, which saw the U.S. International Trade Commission (ITC) vote to repeal anti-dumping duties on its magnesium in February, shipped 115 tonnes of pure magnesium in March and 100 tonnes in April vs. zero in the first two months of the year.
"Since the duty situation has changed, it opens the door for Russian material. People feel a little more comfortable about buying their product than before the (ITC) decision was made," one market source said, noting that the higher imports come at a time of market tightness. "It’s a temporary relief for buyers," he said.
Malaysian magnesium shipments also are on the rise, with 100 tonnes imported in February and another 34 tonnes in April compared with just half a tonne in all of last year.
The Russian and Malaysian magnesium is being sold by U.S. trading houses at around $2.25 to $2.35 per pound, AMM understands,...