The market was slightly chaotic, and most manufacturers were reluctant to offer, and there was a strong wait-and-see mood.

Manufacturers were reluctant to sell and traders were in a strong wait-and-see mood.

The spread is over four times as wide as the $326/st from a year ago.

Chinese magnesium metal prices have rebounded following a fall earlier this week as producers raised their offer prices in response to tighter spot availability.

The tone of steel bidding in September was established last Friday with the bidding price of HBIS Group at 10700 yuan per ton.

Demand usually picks up during the Indian festivals of Dussehra and Diwali, which is celebrated in October and November, respectively.

China's August output reached 233,300t, up by 7.56pc from July, according to data from the China Nonferrous Metals Industry Association.

No firm date was given for the introduction of the planned changes.