The changes will take effect on Friday July 10, 2020.

Fastmarkets has changed the chemistry specification for the magnesium 99.8% Mg min, fob China main ports price to 99.9% min, from 99.8% min, and has changed the name of the price accordingly.

Fastmarkets has also changed the name of the magnesium 99%, exw China price to align with its chemistry specification of 99.9%.

The amended specifications are as follows, with changes highlighted in italics:

MB-MG-0002: Magnesium 99.9% Mg min, fob China main ports, $/tonne

Quality: Ingot. Mg 99.9% min
Quantity: Min 10 tonnes (+/-2%)
Location: fob China main ports
Unit: USD/tonne
Payments terms: LC or TT
Publication: Weekly. Friday between 2pm and 3pm London time


MB-MG-0003: Magnesium 99.9%, exw China, yuan/tonne
Quality: Ingot. Mg 99.9% min
Quantity: Min 20 tonnes (+/-2%)
Location: Ex-works China
Unit: CNY/tonne
Payment terms: Cash on spot
Publication: Weekly. Friday 2-3pm London time

All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website.

To provide feedback on magnesium price assessments, or if you would like to provide price information by becoming a data submitter, please contact Ruby Liu by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ruby Liu re: China magnesium price assessments.’

To see all Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.