The producer sticking together hence why we were in no rush!!!! Full Article below..
"The center report said that magnesium producers in general were facing less pressure from any shortage of funds this year, with some financially weak producers having been ejected from the market, and the surviving ones having stronger risk aversion, resulting in less selling at low prices this year."
"In addition, due to mainland China's supply side reforms, tightening magnesium supply as well as a continual rise in ferrosilicon and coal costs, domestic magnesium producers are more united in selling this year, thus boosting magnesium prices, the center said."
"China's national refined magnesium demand is forecast to hit 750,000 mt by 2020, up from 532,000 mt in 2015, with average annual demand growth of 7.1% during the 13th Five-Year Plan period (2016-20), the Ministry of Industry and Information Technology said on its website in mid-October."
