China Nonferrous Metals News
CNIA: China produced 744.2 kt of primary magnesium from January to October 2021. Of the total, 455.7 kt was produced in Shaanxi, 162.3 kt in Shanxi, 38 kt in IM and 65 kt in other regions of China.
During November, domestic magnesium prices hovered between RMB 30,700~38,200/t with the monthly average price at RMB 33,983/t, up by 159.91% y-o-y. Domestic magnesium prices averaged RMB23,322/t from January to November, up by 74.21% y-o-y.
The ongoing environmental audits in Shaanxi and Ningxia are likely to have an impact on smelter operations, consequently propping domestic magnesium prices at high levels over the short term.