Magnesium prices firm amid sluggish imports

Apr 23, 2012 | 04:31 PM | Suzy Waite

Tags  US Magnesium, Allegheny Technologies, ATI, titanium, Suzy Waite

NEW YORK — Magnesium prices have firmed slightly as sluggish U.S. imports temporarily support prices, although sources remain wary of oversupply concerns later this year.

AMM’s magnesium price range tightened to $2.05 to $2.25 per pound from $2 to $2.25 per pound previously.

While overall import numbers rose to 1,404 tonnes in February from 1,017 tonnes in January, according to U.S. International Trade Commission (ITC) data, the majority of the February material—1,321 tonnes from Israel—will not be available on the spot market, sources said.....

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