China Nonferrous Metals News
CNIA: China produced 147.3 kt of primary magnesium during January and February, up by 23.87% y-o-y in comparison with the same period last year. Of the total figure, output in Shaanxi was 99.3 kt and in Shanxi 19.1 kt, up by 22.33% and 20.48% y-o-y respectively.
Domestic magnesium prices averaged RMB15,561/t in March 20212, up by 10.41% y-o-y. Magnesium transaction prices stood at RMB15,500~15,600/t during the first week of March; in mid-March, smelters held firm on prices in the wake of surging prices of FeSi and coal in combination with operational restrictions during the NPC and CPPCC session period. In late March, the domestic market was flat. On the global market, the demand for primary magnesium from magnesium processers remained weak, resulting in limited exports during the month.