Asian Metal News
Shanxi New Energy Magnesium smelter suspended operations for maintenance in early September and restarted operations on 27th September. The company intends to produce 20 t of magnesium per day with total September output at 200 t, down by 400 t m-o-m.
Designed with 15 ktpy magnesium smelting capacity, the company produced 7.1 kt of magnesium in 2021, and 5.1 kt in the year to day. It currently holds no stock.
Driven by increasing FeSi and Coal prices as well as pre-holiday restocking needs of downstream buyers, domestic magnesium prices rose by RMB 500/t from last Friday to RMB 24,800~25,300/t this week. Industry commentators forecast domestic magnesium prices to hold stable at the current level this week before China’s National Day holiday begins on 1st October.
