Asian Metal News
Ningxia Taiyang Magnesium completed maintenance on one of its production lines, and resumed normal operation on 16th September, increasing its daily production from 85 t to 110 t. The company produced 2.5 kt of magnesium in August and intends to produce 2.9 kt in September and 3.3 kt in October.
Designed with 40 ktpy capacity, Ningxia Taiyang produced 28.5 kt of magnesium in 2021 and 22.5 kt in the year to date. It currently holds 600 t of magnesium ingot in stock.
Mainstream magnesium prices fell by RMB 200/t from last Friday to RMB 24,100~24,500/t ex-works by cash today. Prices are likely to remain stable at the low end in light of sluggish demand and strong coal prices before the week long National Day holiday beginning on 1st October.
