China Nonferrous Metals News
CNIA: China produced 115.1 kt of primary magnesium during the first two months of 2020, down 7.3% y-o-y. Of this figure, Shaanxi’s output was 81.2 kt, Shanxi 14.9 kt, and Ningxia 5.9 kt, up 7.54%, down 29.29% and up 4.67% y-o-y respectively.
Domestic magnesium prices hovered between RMB13,700~14,700/t during March, with the average monthly price at RMB 14,094/t, down 3.9% y-o-y.
Domestic magnesium smelters face increasing difficulties amid severe losses in the semi-coke sector, together with falling prices and continued weak demand. Most domestic magnesium smelters are in loss and are considering short-term production cuts. Looking forward, the domestic magnesium price is projected to be between RMB13,300~13,500/t and USD1,990~2,010/t FOB for exports.
