Mg Prices Still Declined on Falling FeSi Prices and Enough Supply in China

There were several large ferrosilicon furnaces ranging from 25,500KVA to 40,500KVA into operation in China’s Ningxia Hui Autonomous Region and local government enabled more ferrosilicon producers to enjoy preferential power prices in September.

Mg producers kept normal production and statistics showed already operating capacity of magnesium reached 750 thousand tons in Fugu and Shenmu Counties of China’s Shaanxi province.

Support Factors Lacked for FeSi Market Prices in China

Mg Prices Continued to be Flat after National Day Holiday in China

The end of National Day Holiday meant the majority of early October was nearly over. HBIS and Shagang Group had released flat purchase prices of ferrosilicon for October delivery.

In late September some magnesium ingot sold products at lower prices, with financial difficulties confronting them. The lowest quotation for non-pickling Mg ingot 99.90% reached RMB14,350/mt and highest one was RMB14,450/mt, ex-work tax-inclusive price in cash...

In mid and late September, steel mills including HBIS and Shagang Group launched bids for ferrosilicon for October delivery in China. In terms of purchase volumes, flatness or slight decrease was the basic tone. Ferrosilicon producers kept normal operation in ...