Magnesium prices hold as 2013 talks start
Aug 28, 2012 | 03:02 PM
| Suzy Waite
Tags
US Magnesium,
Posco,
magnesium,
US International Trade Commission,
Ford,
F-150,
aluminum,
Dead Sea Magnesium
Suzy Waite
NEW YORK — Spot magnesium prices remain firm due to strong automotive demand, but whether that pricing strength will last into 2013 remains up for debate.
AMM’s spot magnesium prices are holding at between $2.05 and $2.25 per pound, largely driven by solid automotive markets, a trend most market participants said they expect to continue into next year.
Coupled with low consumer inventories, that demand strength is expected to lead to strong 2013 bookings, a number of sources said.
"People are not sitting on stocks. This means that the remaining 2012 contract volumes will be taken, and possibly some customers will need a little bit more next year because of automotive demand," one magnesium supplier said. "Automotive has been driving everything." ....
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