Mg Prices to Remain Stable at RMB 22,700/t Level
29/08/23
China Nonferrous Metals News Domestic magnesium prices soared rapidly to RMB 23,000/t level last Wednesday, however prices have been under pressure since Thursday as tepid demand failed to prop prices at the high-end. As of Friday, mainstream magnesium prices in Fugu Shaanxi were being quoted at RMB 22,700~22,800/t with transaction…
Indonesian Ni Laterite and NPI Prices Up
28/08/23
Shanghai Nonferrous Metals News Nickel laterite prices in Indonesia have risen rapidly by approximately 10% in the past few weeks with the ongoing investigation into illegal mining started in June interrupting mining operations. Buoyed by rising nickel laterite prices, high-NPI prices in Indonesia rose to RMB 1,175/nickel unit (USD 161/nickel…
Domestic Mg Transactions Slow since Wednesday
25/08/23 | Magnesium
Asian Metal News 24th August: Domestic magnesium prices fell slightly by RMB 100/t from Monday to RMB 22,700~23,000/t but transactions have been slow since Wednesday as most buyers finished restocking early this week. Industry commentators forecast domestic magnesium prices will continue stable at low levels next week. A northern smelter…
CAAM: New Car Production & Sales Drop in July
14/08/23 | EV
CAAM News CAAM (China Association of Automobile Manufacturers): China produced 2.4 mln new cars and sold 2.39, down by 6.2% and 9% m-o-m and down by 2.2% and 1.4% y-o-y respectively. During the first seven months of 2023, China’s car production and sales were 15.65 mln and 15.63 mln, up…
Domestic Mg Transactions Slow
11/08/23 | Magnesium
Asian Metal News Domestic magnesium transactions have slowed since prices rebounded to RMB 21,700 ~22,100/t level ex-works on Wednesday, up by RMB 600/t from last Friday. Most magnesium smelters are holding firm on prices given limited stocks. A northern smelter sold 62 t of magnesium at RMB 21,800/t on Tuesday,…
China Produces 15.8 kt of FeMo in July 2023
10/08/23 | Molybdenum
Shanghai Nonferrous Metal News China produced 15.8 kt of FeMo in July 2023, down by 4% m-o-m. The decline can be attributed to FeMo producers running at only 60~80% operational rates to mitigate the risks coming from high molybdenum concentrate prices. Some FeMo producers ran maintenance in July, resulting in…
Ningxia: “Implementation Measure for High Energy Consumption and High Emission Projects”
10/08/23
Cnal News Ningxia has released, “Implementation Measure for High Energy Consumption and High Emission Projects”. The policy stipulates: Strict implementation of production capacity, energy consumption, and pollutant reduction-replacement scheme for new and expanded high energy consumption and high emission projects. For new/expansion primary aluminium projects, the replacement ratio is set…
China Mg Production 50.9 kt in July
10/08/23 | Magnesium
Shanghai Nonferrous Metals News China produced 50.9 kt of magnesium ingot in July 2023, down by 3.14% m-o-m and down by 26.48% y-o-y. China’s magnesium alloy production was 26 kt in July, up by 1.23% m-o-m but down by 6.88% y-o-y. China produced 54 kt of magnesium powder in July,…
Xianglu W: Losses of RMB 10~20 mln in H1 2023
09/08/23 | Tungsten
Shanghai Nonferrous Metals News Xianglu Tungsten expects a net profit loss of RMB 10~20 mln attributable to shareholders of the listed company in H1 2023, reversing the company’s profitable trend in H1 2022. The loss can be attributed to increased prices for tungsten concentrates and APT which have been led…
