Asian Metal News
Shenmu Qinqing suspended magnesium smelting on 25th May, due to a lack of required environmental assessments. The company is working to accelerate the process but a date for resuming production is uncertain.
The company is set to produce 1,560 t of magnesium in May, down by 200 t m-o-m. Designed with 25 ktpy capacity, the company produced 1,760 t of magnesium in April, and holds 1,800 t of magnesium in stock. It has produced 15.5 kt of magnesium in 2021 and 7.6 kt in the year to date.
Domestic magnesium prices fell by RMB 1,000/t on Monday to RMB 29,000~30,000/t (ex-work by cash), led by weaker demand. Industry commentators forecast domestic magnesium prices to be hovering at low levels during the week.
