China Nonferrous Metals News
China exported 16.13 kt of primary magnesium in May, down 26% m-o-m and down 17% y-o-y. The average export price of primary magnesium was USD2,192/t, down 2.8% m-o-m and down 12% y-o-y. China’s magnesium exports in the first five months of 2020 totaled 102.6 kt, up slightly by 0.26% y-o-y.
The impact of the COVID-19 has resulted in a significant decline in exports of primary magnesium and magnesium products. A Fugu magnesium smelter revealed that a large number of primary magnesium export orders were cancelled or delayed in May with only limited orders completed for the Japanese, Korean and European markets. Exports orders for magnesium powders and alloys fell sharply seeing over 70% of relevant producers cutting operations. These producers are now feeding domestic demand.
