Asian Metal News
Shenmu Moyuan Dingtai magnesium smelter plans to cut magnesium production by 70% decreasing its daily production to 15 t in late March. The company expects 1.3 kt of magnesium production in March and 450 t in April.
Shenmu Xinqing magnesium smelter cut its daily magnesium production from 70 t to 45 t in early March and will cut production further to 30 t per day. A company spokesman said, ‘We have been buckling under low prices and high production prices since March. Additionally we are under pressures from weaker demand and rising costs of semi-coke. In anticipation of a weak market we have decided to cut operations further until the market recovers.”
Mainstream magnesium prices in Shaanxi dropped by RMB 600/t to RMB 17,200~17,400/t ex-work by cash on Tuesday, while prices stopped falling and rebounded to RMB 17,500/t on Wednesday on increased new orders.
