Traders who bought magnesium direct from China before the holiday saw prices of around USD3,950-4,000t FOB China, while in Rotterdam warehouse materials changed hand at around USD4,200-4,300/t.
Judging from the situation in the market now, there are possibilities that the price will fall further in a market facing depression.
"Chinese suppliers have no patience," said a European trader whose price is around USD4,200/t at Rotterdam warehouse. " They are always in a hurry to sell materials especially when the price show sign of sliding further or demand is not coming as they expect."
Looking at the situation at hand, consumers most have bought a lot of materials in the second quarter despite the high price, therefore, suppliers should not expect much in the market until next year.
Another European trader who bought a few tons two weeks ago direct from China at USD4,000t FOB could not hide his opinion as he said, "The price will fall further as it has began to fall because there is nothing supporting it at this level."
Analysts summoned it up when they told Asian Metal magnesium has tasted its good days a couple of months ago and go back to its level as the quarter raps up.
Judging from the situation in the market now, there are possibilities that the price will fall further in a market facing depression.
"Chinese suppliers have no patience," said a European trader whose price is around USD4,200/t at Rotterdam warehouse. " They are always in a hurry to sell materials especially when the price show sign of sliding further or demand is not coming as they expect."
Looking at the situation at hand, consumers most have bought a lot of materials in the second quarter despite the high price, therefore, suppliers should not expect much in the market until next year.
Another European trader who bought a few tons two weeks ago direct from China at USD4,000t FOB could not hide his opinion as he said, "The price will fall further as it has began to fall because there is nothing supporting it at this level."
Analysts summoned it up when they told Asian Metal magnesium has tasted its good days a couple of months ago and go back to its level as the quarter raps up.
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