Asian Metal News
Shaanxi Sanxin suspended magnesium smelting and started maintenance on 23rd July. The company will run maintenance for one week and resume operation in early August.The company is likely to extend the maintenance plan amid weaker demand, slow sales, high production of semi-coke and weak magnesium prices.
Designed with 35 ktpy magnesium smelting capacity, the company produced 2.7 kt of magnesium in June and expects 2.12 kt of production in July. It produced 32.5 kt of magnesium in 2021 and 16.7 kt in the year to date.
Mainstream magnesium prices currently stand at RMB 23,000~23,100/t in Shaanxi, remaining stable from last Friday. Prices are expected to continue stable over the short term given a flat market represented by weaker demand and bearish sentiment of downstream buyers.
