Prices of magnesium in Shanghai fell 1 per cent compared with early last week, and traders and analysts expect limited upside for the metal, used to make aluminium-magnesium alloys, due to weak demand.

Prices of magnesium ingot fell 100 yuan a tonne from early last week, to between 16,500 yuan and 16,700 yuan ($2,420-$2,449) a tonne, having halved from the same period last year.

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