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[Ferro-alloys.com] Editor of www.ferro-alloys.com learnt producers slightly raised their quotations this week in China. Mainstream Shaanxi Mg99.90% price increased to RMB14,500-14,600/mt(USD2,358-2,375/mt), non-pickling ex-work tax-inclusive price in cash, lower than last week.

Chinese magnesium ingots were mainly exported to the EU market. Export market of magnesium ran smoothly. Export price of magnesium ingot 99.90% remained USD 2,480-2,520/mt, FOB at Tianjin port. European magnesium ingot 99.90% remained USD 2,650-2,700/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: Market prices of magnesium ingots had hit the cost and one major raw material- FeSi75# was in much tight supply status on firm prices. In late August the magnesium ingot producers which conducted maintenance over their facilities would restart operation and this would cause gradually improved supply. Mg ingot prices were likely to stabilize in late August in China.

• [Editor:Phillip.Feng]