Domestic Mg Prices Soar
10/05/23 | Magnesium
Asian Metal News Domestic magnesium prices soared rapidly by RMB 3,000/t from last Friday to RMB 26,500~27,000/t on Tuesday led by panic buying after the news on 7th May regarding suspensions of all semi-coke furnaces under 75 ktpy in Fugu Shaanxi from 10th May. Some magnesium smelters were reluctant to…
April Mg Production Surges to 70 kt
10/05/23 | Magnesium
Shanghai Nonferrous Metals News China produced 70 kt of primary magnesium in April 2023, up by 5.3% m-o-m but down by 17% y-o-y; China’s total production during the first four months of 2023 was 269 kt, down by 20% y-o-y. Domestic magnesium prices spiked in April due to the news…
Mg Transactions Slow since Wednesday
27/04/23 | Magnesium
Asian Metal News Mainstream magnesium prices lifted by nearly RMB 1,500/t on Monday to RMB 23,500~23,800/t Wednesday. Most buyers tried to complete restocking this week before the Labor Day holiday, but transactions have begun to slow since Wednesday. A northern smelter sold 100 t of magnesium at RMB 23,500/t on…
138.3 kt of Mg Production at Yulin, Shaanxi
27/04/23 | Magnesium
Shanghai Nonferrous Metals News Yulin Shaanxi had a stable beginning to 2023, with Q1 2023 production of primary aluminium at 155.4 kt, primary aluminium at 138.3 kt, polycrystalline silicon at 4.52 kt, ferroalloy at 324 kt and semi-coke at 8.29 mln t.
Domestic Mg Prices Fall
25/04/23 | Magnesium
China Nonferrous Metals News After a price hike led by news of suspensions of semi-coke furnaces two weeks ago, domestic magnesium prices dropped rapidly to RMB 25,000~27,000/t in Fugu Shaanxi last week. This represents a sharp fall of RMB 3,000~5000/t from the high point, however no actual implementation was carried…
Domestic Mg Prices on the Decline
21/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices fell sharply by RMB 1,000/t from last Friday and have been lingering around RMB 26,500~26,800/t this week led by slowing procurement activities and fierce price competition among smelters. Buyers have been cautious with few transactions this week, and in view of weakening demand…
China Mg Production at 66 kt in March
13/04/23 | Magnesium
Shanghai Nonferrous Metals News China produced 66 kt of magnesium in March 2023, down by 3.8% m-o-m and down by 24% y-o-y. During Q1 2023, China produced 199 kt of magnesium, a sharp fall of 21% y-o-y. Domestic magnesium prices continued to be weak during March driven by sluggish demand,…
Domestic Mg Prices Rebound Slightly
12/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices lifted rapidly by RMB 300/t from Monday to RMB 22,000~22,300/t on Tuesday driven by panic buying – caused by worries of supply deficit and vendors’ strong will to shore prices. Industry commentators forecast prices to climb further this week. A northern buyer noted…
Domestic Mg Prices Rebound Slightly
06/04/23 | Magnesium
Asian Metal News Mainstream domestic magnesium prices bounced back by RMB 200/t from last Friday to RMB 20,400~20,600/t on Wednesday. This reaction was led by increased transactions and increasing trader deals due to the news of semi-coke furnace suspensions which are to begin in late April. According to a spokesperson…
