Asian Metal News
Fugu Jinchuan suspended magnesium smelting on 21st May to carry out some pipe work and is set to resume in late May, ramping up operations to 80 t per day afterwards.
Designed with 25 ktpy capacity, the company produced 800 t of magnesium in April and expects 2.3 kt of production in June 2024. It currently holds 300 t of magnesium ingot in stock.
Mainstream magnesium prices rose by RMB 50/t from Tuesday to RMB 18,550~18,600/t ex-work by cash but market transactions were flat. Given strong FeSi prices and few new orders, industry commentators forecast prices to stabilize at the current level next week.
