European magnesia market holds stable

Since the middle of last year, magnesia price started to rise due to the increasing power tariff in China, and now foreign buyers claimed that market is stabilizing and price had not changed much for the last few weeks.
A European consumer who buys over two thousand tones 97.5%min fused magnesia every year disclosed to Asian Metal that their current purchase from China are in the range of USD520-525/t FOB China, or USD650/t CIF major European port, which had stabilized currently for the last several weeks.
The source complained that the price for raw material is increasing fast and magnesia price almost doubled compared to the price a year ago. "But I have no other choice but to accept the higher prices as there is no effective alternatives, and the prices for other raw material increased too," said the source.
An Eastern European consumer's last purchase of magnesia was a couple of weeks ago at USD375/t CIF European port. He purchases a few thousand tones of 90%min dead burn magnesia every year, and claimed that price had not changed in the last two weeks
According to him, business has been difficult in the last few months as the European economy is slowing and consumers are buying less material from him. Due to the weak demand for the downstream product, the source is buying less from China and holds that magnesia price may keep stable for that reason.
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