The announced Chinese mineral export quotas for 2012 show little change for magnesia and, owing to the recent “fire sale” of Chinese magnesia, traders expect a quiet period to extend through to the end of the first quarter of 2012.
As usual, towards the year-end, the announcement of the following year’s export quotas by China’s Ministry of Commerce (MOFCOM) sends traders and consumers checking their stocks and future requirements (see table below).
Meanwhile, Chinese producers and exporters assess how much of their current year’s quota remains unsold and are pressed into almost panic selling at bargain prices to avoid penalties and losing the right to export the following...