Slower Magnesium International Market

International magnesium market price turned into decrease recently. The offer from Chinese suppliers dropped by US$ 300 to less than US$ 6,000 per tonne in a week, according to trading firms. The market price is weakening due to slower demand in China. Japanese trading firm sources reported the magnesium buyers in Japan and Europe already secured the materials for July-September. The demand in China also slows down due to financial squeeze by Chinese government.Chinese government regulates the production of magnesium during Beijing Olympic game. Chinese offer increased to US$ 6,300 per tonne in early June due to lower supply and higher cost for the production. Japanese sources expect the magnesium price could keep more than US$ 4,000 per tonne even the weaker demand due to higher cost for ferrosilicon and coal.