Platts reported that this week, spot export offers for Chinese magnesium ingot on a FOB basis fell on the back of thin trade and weak overseas buying interest.
Magnesium Market News Directory
Platts reported that according to China's General Administration of Customs, in January, the country's exports of unwrought magnesium with a minimum magnesium content of 99.8 percent increased 59.2 percent from the previous year.
Platts reported that on the eve of the Lunar New Year, spot trade in Chinese magnesium ingot export came to a halt as market participants left work for the holiday.
Recycling Today reports that Phinix LLC, based at the University of Kentucky, will receive grant money from the US Department of Energy to develop technology to recover magnesium from magnesium-aluminum scrap.
The US Department of Energy, through its Northwest National Laboratory, is developing a process that processes magnesium from seawater, The Engineer reported.
Digital Journal reports that the Chinese magnesium market is on the cusp of change as producers are under government orders to phase out old and inefficient production technologies, undertake mergers and acquisitions, and improve resource management.
AMM.com reported that US magnesium prices are up due to strong automotive demand and a tight nonferrous scrap market.
MetalBulletin reported that European magnesium prices rose on Friday on substitution buying due to lack of availability of aluminum scrap.
A scientific paper claims that minerals found in craters on the moon may not be indigenous to the moon but caused by an asteroid or meteorite strike, CBC reported.
Bloomberg reported that US Steel is using the tactic of promoting safety in using steel in autos to consumers, as automakers aggressively seek alternative materials.