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[Ferro-alloys.com] After the mid-autumn festival, magnesium ingot prices kept comparatively stable in China. Mainstream Shaanxi Mg99.90% price stayed at RMB14,450-14,500/mt(USD2,356-2,365/mt), non-pickling ex-work tax-inclusive price in cash, the same as last week. As magnesium ingot producers said, the output of magnesium was on the increase in September and supply was comparatively enough.

European dealers gradually went into the market for purchases, but they were not so active in purchasing products. The non-tax-inclusive exported materials affected the deals of legal exported materials. 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% declined to USD 2,580-2,630/mt.US magnesium 99.90% price stabilized at USD1.90-2.25/lb.

Analysis: Currently supply of magnesium ingots was in surplus and prices of downstream materials were low, European magnesium dealers were expected to purchase materials for Q4 or the next year in late September. Then the magnesium market was likely to improve.

• [Editor:Phillip.Feng]