On January 30, Shaanxi Magnesium Group quoted the price of primary magnesium ingots (99.9% un-pickled, simple packaging) in Fugu at 16,700 yuan/ton, up by 100. PriceSeek's analysis of magnesium, with a long-short score of 1: The article reports that Shaanxi Magnesium Group has raised the price of primary magnesium ingots by 100 yuan/ton to 16,700 yuan/ton, indicating tight spot market supply or increased demand, which is favorable for the spot price of magnesium. The moderate price increase reflects an improvement in market fundamentals but is not driven by significant events, thus scoring as generally positive.
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