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[Ferro-alloys.com]Spot magnesium price range strengthened to $1.90 to $2.25 per pound from $1.88 to $2.22 previously. One producer source said his company had recently booked one truckload of spot business, or roughly 20 tons, at $2.25 per pound, a number he said was roughly flat compared with previous spot transactions. "The fundamental reason behind the (price) stability is that more than 95% of volume is under contract," he said. "And even if a contract customer needs more volume, all he does is move forward on his contract until he runs out." That generally doesn’t happen until November or December, which is when the magnesium market could see an increase in spot market activity and prices.