Asian Metal News
Fugu Jinwantong magnesium smelter powered up two sets of 150 ktpy semi-coke furnaces on 17th November and is set to resume production on 25th November with daily production expected at 80 t. The company intends to produce 600 t of magnesium in November and will restart three more sets of semi-coke furnaces later.
Designed with 40 ktpy capacity, the company has produced 38.5 kt of magnesium in 2022 and 13.2 kt in the year to date. It currently holds no stock.
Fugu Yufeng magnesium smelter is set to resume magnesium production on 26th November with daily production expected at 70 t. The company intends to produce 280 t of magnesium in November 2023.
The smelter has been idled since mid-May 2023 and was occupied with building new semi-coke furnaces until completion of the work in mid-November. The company is currently operating on two sets of 150 ktpy furnaces.
Designed with 25 ktpy capacity, Fugu Yufeng intends to produce 280 t of magnesium in November, ramping up to approximately 2 kt in December. The company produced 21.5 kt of magnesium in 2022 and has made 9.7 kt in the year to date.
Mainstream magnesium prices fell by RMB 300/t from last Thursday to RMB 20,500~20,600/t this week. Industry insiders forecast magnesium prices to be under pressure due to lackluster demand.