Offers of Minor Metals in Europe (2017-09-28）

【SMM Blue Coal Express】 Ordos Electric Power & Metallurgy Group Procurement Center announced that, based on current market conditions, the ex-factory tax-inclusive price of medium-sized blue coal in the Shenmu area will be adjusted from 1300 yuan/ton to 1030 yuan/ton, and that of small-sized blue coal will be adjusted from 1280 yuan/ton to 1010 yuan/ton, representing a reduction of 270 yuan/ton for both grades. The new prices will be implemented for all deliveries entering the plant starting from September 10,2026.

[Weakening cost expectations drive magnesium ingot prices sharply lower] The magnesium ingot market ended its brief shot up today, with prices drifting lower. Pullbacks in coal and ferrosilicon cooled expectations for cost support, and under high inventory and capital pressure, smelters rushed to offer low-priced spot magnesium. Downstream demand was already weak, and combined with wild swings in the market, confidence is lacking and wait-and-see sentiment is strong. Magnesium producers' pricing strategies will dominate the futures market going forward, and the market is expected to remain under pressure in the short term.