Asian Metal News
Fugu Xintian magnesium smelter is set to suspend smelting on 26th March, 2023 and the date of resumption is undecided.
According to an internal source; “We have been mired in loss for four months since December 2022 due to low prices and slow sales of semi-coke together with continuing low magnesium prices. So we will suspend operations on 26th March.”
Designed with 54 ktpy magnesium smelting capacity Fugu Xintian expects 2.9 kt of magnesium production in March 2023, up by 600 t m-o-m and currently holds 6 kt of magnesium in stock. The company produced 44.98 kt of magnesium in 2022 and expects 7.6 kt of production in Q1 2023.