Shanghai Nonferrous Metals News
China produced 83 kt of magnesium ingot in February 2022, up by 0.99% m-o-m and up 25.73% y-o-y. Driven by relatively high profits, domestic magnesium production is expected to remain stable at high levels in March.
Last week (14th ~18th March): Weaker downstream demand put pressure on magnesium prices under RMB 40,000/t, but magnesium smelters were holding firm at transaction prices at RMB 39,000~40,000/t. The market appeared stagnant, with most deals driven by fixed demand.