On January 9, the average price of primary magnesium (99.90%) was $2,575 per ton FOB Tianjin Port, up by $20; the average price was €2,215 per ton FOB Tianjin Port, up by €20. PriceSeek's analysis of magnesium, with a long-short score of 1, reported that the average price of primary magnesium FOB Tianjin Port increased by $20 per ton and €20 per ton, indicating a rise in spot market prices. This may be due to increased international demand for primary magnesium or tight supply, which is favorable for spot prices. The increase is significant but not extreme, and it is expected that the spot market will receive support in the short term, with prices likely to continue strengthening.
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