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[Ferro-alloys.com] In late September some magnesium ingot sold products at lower prices, with financial difficulties confronting them. The lowest quotation for non-pickling Mg ingot 99.90% reached RMB14,350/mt and highest one was RMB14,450/mt, ex-work tax-inclusive price in cash in Shaanxi’s Fugu county. Mainstream Shaanxi Mg99.90% price was RMB14,350-14,450/mt(USD2,340-2,356/mt), non-pickling ex-work tax-inclusive price in cash, the same as last week. IITD of Ningxia Autonomous Region statistics showed magnesium inventory was around one thousand tons.

Although magnesium ingot prices were seen with slight decrease, export market of Chinese magnesium remained steady. Chinese magnesium ingots were mainly exported to the EU market. Export price of magnesium ingot 99.90% remained USD 2,450-2,500/mt, FOB at Tianjin port. European magnesium ingot 99.90% stayed at USD 2,580-2,630/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: One raw material for producing magnesium ingot- FeSi75# was still comparatively few, but the output of this brand was expected to increase later. What was worse,  ferrosilicon producers were not hopeful about October purchase prices. Mg ingot market was expected to run smoothly during the National Day Holiday and early October in China.

• [Editor:Phillip.Feng]