Asian Metal News
Shanxi New Energy halted operations for maintenance on 1st June and is set to resume operations on 26thJune 2023 driven by recovering prices.
In view of poor demand, the company started maintenance in early June and is set to resume operations on 26th June with daily production at 20 t.
Designed with 10 ktpy magnesium capacity, the company produced 600 t of magnesium in May and expects 80 t of production in June and currently holds 150 t of magnesium in stock. The company produced 7.1 kt of magnesium in 2022 and has made 2.8 kt in the year to date.
Mainstream magnesium prices rebounded to RMB 20,500~21,000/t this week, up by RMB 500/t from last week driven by increased coal prices, improved demand and smelters’ strong will to prop prices. Industry commentators forecast magnesium prices to continue stable at the current level this week.