Magnesium prices inch up

Oct 08, 2013 | 05:01 PM | Michael Cowden

Tags  magnesium, magnesium prices, secondary aluminum, government shutdown, Michael Cowden

CHICAGO — Magnesium prices have edged up slightly because of a tight aluminum scrap market, although some market participants are concerned that a lengthy government shutdown could hurt demand.

AMM’s magnesium price range assessment has narrowed to $1.90 to $2.25 per pound from $1.85 to $2.25 previously.

The wide price spread is largely due to a gap between offerings from traders and those from a domestic producer, market sources said. The producer may be able to command a premium because of its ability to offer long-term supply agreements, which may be more difficult for some traders to guarantee, they said.....

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