In the domestic market, Fastmarkets’ weekly price assessment for magnesium 99.9%,exw China
was 17,000-17,100 yuan ($2,617-2,632) per tonne on Friday April 23, an increase of 1,400 yuan per tonne, or 8.9%, from 15,600-15,700 yuan per tonne a week earlier
Sources told Fastmarkets that market participants had become very cautious about trading given that the prices had risen several hundred yuan per day over the week.
“The market has gone crazy,” a trader said. “Many traders have chosen to temporarily withdraw from the market while the market stabilizes. The producers...