renewed demand to bolster China's Mg prices

摘要

Market participants are expecting Chinese magnesium prices to extend gains in the short term following a recent recovery in purchases from export firms and financial subsidies from local governments. Domestic prices for 99.9pc grade metal increased to 12,600-13,000 yuan/t ($1,883-1,943/t) ex-works today, up from Yn12,100-12,500/t on 30 September, as producers continued to hike offer prices after selling stocks in previous weeks.