Recently the domestic magnesium prices rapidly increase.
In October the monthly average price of domestic magnesium was 16075 yuan / Ton, increased 7.8%.
From January to October the average price was 13,622.73 yuan / Ton, increased about 3.56%.
Due to the National Day holiday and the annual meeting of the magnesium industry, in October,
the market activity was relatively low than other months. According to past years trends, after
the annual meeting, magnesium prices will have a different degrees of decline, but in this year,
the trend of magnesium price uncharacteristically, not only did not drop by, actually increased,
and increased rapidly. At the end of October the average daily price of domestic magnesium was 16,
650 yuan / Ton, compared with September 15050 yuan / Ton, prices rose 1,600 yuan / Ton, prices
increased by more than 10%.
In October,the price increase of magnesium was mainly affected by two factors, on the one hand
was the raw material price increases rapidly , on the other hand was affected by unexpected events.
By the way, coal prices continued to rise in October, ferrosilicon prices also increased
substantially. By the end of the month, 75 # ferrosilicon prices was about 5,800 yuan/Ton to 6,000
yuan / Ton, compared with the end of September 5000 ~ 5200 yuan / Ton, increase 800 yuan / Ton ,
prices increased by more than 15%. Affected by these factors, magnesium price continue to rise at