China magnesium quarterly price to drop to US$ 4,100-4,200/t level

Japanese and European magnesium buyers are expected to get lower price from Chinese suppliers for October-December shipment at the negotiation started last week.

The price is likely to be US$ 4,100-4,200 per tonne, which is US$ 1,900 lower than July-September level.

The price in China, which represents 80% of world supply, hit bottom and rebounded to US$ 4,200 level while the price decreased to US$ 4,100 last week, according to Japanese trader sources.

The price is apparently supported by high refining cost despite of the easy supply. – Japan Metal Bulletin