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[Ferro-alloys.com] Mg price continued to be slightly fluctuating this week, with mainstream Shaanxi Mg99.90% price remaining RMB14,300-14,500/mt(USD2,300-2,333/mt), non-pickling ex-work tax-inclusive price in cash. While magnesium ingot of the same brand dropped by around RMB100/mt (USD16/mt). Spot materials were on the decline and those who offered quotations lower than the mainstream prices before had begun to bring the prices up a little.

Export market of magnesium kept stable with not many orders. Export price of magnesium ingot 99.90% remained USD2,500-2,550/mt, FOB at Tianjin port. European magnesium ingot 99.90% was still USD 2,700-2,750/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: Steel mills continued to reduce purchase prices, but magnesium producers had been in deficit already. Ferrosilicon price had been much lower than production cost through late March. Magnesium price was expected to keep weak stability in next week.

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• [Editor:Ginna]