Magnesium tops $4,000/T amid supply crimp

Nov 27, 2007 | 10:02 AM | Hongmei Li

Strong demand from overseas buyers has propelled Chinese magnesium export prices to more than $4,000 a tonne f.o.b., up 20 percent in the past two weeks.

Tight supply combined with rising demand has pushed prices for small quantities of material to between $4,000 and $4,400 a tonne, f.o.b. main Chinese ports, from $3,350 to $3,400 previously, market sources said.

The volumes being sold are small, with sales being made to customers "in dire need of the product . . . (who) do not mind paying high prices," a magnesium exporter in China's northern Shanxi province said. The exporter reported selling 100 tonnes to a European customer at $4,000 a tonne f.o.b.....

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