PRICING NOTICE: Proposal to amend Fastmarkets’ magnesium price assessments

Fastmarkets is proposing to amend the specifications of its magnesium fob China main ports price and magnesium exw China price to reflect the quality of the material produced in China.

Market participants reported that magnesium with a minimum metal content of 99.9% is the mainstream for products produced and exported by Chinese magnesium suppliers. 

Following an initial discussion with market participants, Fastmarkets is proposing to change the chemistry specification for the magnesium 99.8% Mg min, fob China main ports price to 99.9% min from 99.8% min, and to change the name of the price assessment accordingly.

For Fastmarkets’ magnesium 99%, exw China price, the chemistry specification for magnesium would be kept unchanged at 99.9% min, however, Fastmarkets will clarify the magnesium purity in the name of this price assessment to make it align with the specification.

The consultation period for this proposed amendment starts on Friday June 5 and will end on July 3. The amendment will take place, subject to market feedback, on July 8.

The proposed 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.

What to read next
The publication of the affected prices was delayed for 50 minutes. The following indices were published late: MB-MNO-0001 Manganese ore high grade index, cif Tianjin, $ per dmtu MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $/dmtu MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $/dmtu These prices are a part of the […]
Fastmarkets proposes to amend the specifications of its weekly price assessment for MB-STE-0037 steel rebar domestic exw Italy to better reflect the material traded in the market.
The global copper market has finally received the widely anticipated news that imports to the US will be tariffed from August 1. The finer details of the tariffs, including their scope, and whether key copper-exporting nations like Chile, Canada and Peru will be exempt, remain unclear.
The purpose of this review is to ensure that the index continues to accurately reflect prevailing market conditions. We welcome feedback from industry participants on potential amendments to the base specification. This consultation, which is open until August 9, 2025 seeks to ensure that our methodologies continue to reflect the physical market under indexation, in […]
Information came to light that mill buying offers had been adjusted for July following Fastmarkets’ settlement of these prices on that date, leading to an incorrect published assessment for the following grades: MB-STE-0789 Steel scrap No1 heavy melting, consumer buying price, fob Montreal, Canadian $/net ton was previously published at C$245 ($179.41) per net ton, a C$10 […]
Mexico’s production and consumption of long steel fell year-on-year in May due to weakness in the country's construction sector, but posted a month on month gain, according to the latest data from the Mexican steel chamber, CANACERO.