Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

China Aug magnesium price rises 6% on tight supply, to ease in Sep: CNIA

Agriculture | Biofuels | Grains | Energy | LNG | Natural Gas | Oil | Crude Oil | Metals | Steel | Shipping | Marine Fuels | Tankers

Market Movers Asia, Oct 14-18: US-China's partial trade deal, Mideast oil risks in focus


Platts Market Data – Oil

Commodities | Metals | Non-Ferrous | Aerospace & Defense | Autos & Capital Goods | Materials | Building & Construction | Transportation

Aluminum Symposium 2020


Rio Tinto lowers expectations for 2019 aluminum, alumina, bauxite production

China Aug magnesium price rises 6% on tight supply, to ease in Sep: CNIA

Hong Kong — China's magnesium ingot prices averaged Yuan 17,600/mt ($2,570/mt) in August, up 5.98% year on year on tighter spot supply, as most producers had run out of stocks, China Nonferrous Metals Industry Association said in its magnesium report Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The daily average of ingot prices in August moved in a range of Yuan 17,100-17,900/mt, CNIA data showed.

CNIA predicts that the Chinese daily average magnesium price would move in the range of Yuan 16,500-17,500/mt in September.

Prices in January-August averaged Yuan 15,800/mt, up 6.15% year on year, its data showed.

CNIA said magnesium prices hit the Yuan 18,000/mt mark once in mid- August -- a new high for this year. But the swift rise in price spurred buyers to wait and see, pushing down prices later in August, it added.

Prices had also faced some downward pressure late August, compared to early August, as Chinese producers had gradually resumed production, easing supply tightness.

As of the end of August, main stream cash, tax-inclusive, ex-plant prices for 99.9% magnesium ingot in Shanxi province were at Yuan 17,600-17,700/mt, up from 16,900-17,000/mt end-July, while prices in Ningxia Hui Autonomous Region were at Yuan 17,400-17,500/mt, up from Yuan 16,700-16,800/mt end-July, and prices in Shaanxi province were at Yuan 17,400-17,500/mt, up from Yuan 16,600-16,700/mt end-July, CNIA data showed.

"Looking ahead, the association predicted that the gradual restart of Chinese [plants], after their shutdown over summer for annual overhauls, would hike spot supply in September. This, plus continuously weak ferrosilicon prices, could cap magnesium prices in the coming weeks, it said.

Guangzhou-based brokerage GF Securities in its monthly metal report said strict domestic environment protection control, and the Chinese magnesium sector's shutdown in summer for annual overhauls have supported magnesium prices recently. It noted that the government's extent of the emphasis on domestic environment control would affect Chinese producers' upcoming magnesium output and that would be a key factor in deciding near term prices, while in the long run, China's light weight car trend and its resultant stronger demand for magnesium would impact future prices.

China produced 436,600 mt of magnesium ingot in the first seven months of this year, down 21.89% year on year due to reduced output in the key production zones, CNIA data showed.

--Joshua Leung,

--Edited by Geetha Narayanasamy,