Asian Metal News
Shaanxi Zhongxin suspended magnesium smelting on 26th March 2024 to carry out maintenance on semi-coke making and desulfurizing equipment. The company is set to resume operations on 21st April after the maintenance is complete and expects daily production at around 30 t with the possibility of ramping up operations according to market demand.
Designed with 28 ktpy capacity, the company produced 2.3 kt of magnesium in March and its April production is expected at 300 t. The company produced 7.5 kt of magnesium in Q4 2023, 7.3 kt in Q1 2024 and currently holds no stock.
Mainstream magnesium prices currently stand between RMB 18,600~18,700/t ex-works in Shaanxi continuing stable w-o-w, while transactions are slow. Prices are likely to stay firm at the current level in view of smelters strong will to shore up prices.
