Asian Metal News
Jujinbang, a magnesium smelter in Fugu, Shaanxi, suspended magnesium smelting for circuit maintenance on 30th May and plans to restart on 10th June.
Designed with 20 ktpy magnesium capacity, the company produced 1 kt of magnesium in May with its June production estimated at 800 tonnes. It produced 5.5 kt of magnesium in 2021 and has made 5.2 kt in the year to date. According to an internal source, the company holds no stock at present and intends to keep stocks low amid sluggish demand and a gloomy price outlook.
Domestic magnesium prices continued to drop by RMB 2,000/t to RMB 28,000~28,500/t (ex-work, by cash) this week amid weaker domestic demand. Spot transactions were sparse and industry commentators were bearish about market prospects.