Spot prices for magnesium shoot upward in tight mart

Dec 19, 2007 | 02:46 PM | Meghann McDonell

Spot magnesium prices have spiked as buyers in need of material discover they have plenty of company but very few choices in the U.S. market, sources said.

"Sales have been pretty strong. There is a lot going on," a trader said. "Usually this time of year we see things slow down, and most of the annual stuff has been committed to. But still the market has been a little wild; there are less producers and more buyers."

Spot magnesium is changing hands at between $2.25 and $2.60 per pound, up from $2.05 to $2.15 previously and $1.30 to $1.35 per pound a year ago. The price range is much wider than typical because sellers are changing prices depending on the customer, according to traders.....





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