The sharp rise in the price of magnesium ingots led to the suspension of quotation by sponge titanium manufacturer
99.95% of magnesium ingots rose CNY12500 / ton today, and the market quotation broke CNY60000/ ton. Magnesium ingots continued the soaring trend before holiday. Sponge titanium manufacturers' costs were seriously upside, and external quotations had been suspended. There was a strong wait-and-see mood in the industry. The soaring price of magnesium ingots had a far-reaching impact on sponge titanium, its downstream titanium ingots and titanium materials market.
