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[Ferro-alloys.com] Magnesium producers kept normal production during National Day Holiday and demand seemed steady, which caused more inventory in warehouses.

The lowest quotation for non-pickling Mg ingot 99.90% reached RMB14,350/mt and highest one was RMB14,400/mt, ex-work tax-inclusive price in cash in Shaanxi’s Fugu county. Mainstream Shaanxi Mg99.90% price was RMB14,350-14,400/mt(USD2,341-2,349/mt), non-pickling ex-work tax-inclusive price in cash, the same as last week.

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: Flat October purchase prices of ferrosilicon placed pressure on the improvement of prices and gradual colder weather was likely to enable the rise of overall operation rate of ferrosilicon. The likely increasing output of FeSi75# and foreign buyers’ more active purchases starting from late October were expected to help improve the market in China.

• [Editor:Phillip.Feng]