2022 Encouraged Catalogue for Foreign Investment
16/11/22 | Magnesium
China Nonferrous Metals News NDRC (National Development and Reform Commission) and MOC (Ministry of Commerce) jointly published the “2022 Encouraged Catalogue for Foreign Investment”, which will come into effect on 1st January 2023. Magnesium alloy and deep processing projects are, once again, included in the national catalogue of industries that…
China Produces 79 kt of Mg in October
11/11/22 | Magnesium
Shanghai Nonferrous Metals News SMM: China produced 79 kt of magnesium ingot in October 2022, down by 3.75% m-o-m but up by 33.8% y-o-y. China’s total magnesium production during the first ten months of 2022 totaled 806.8 kt, up by 28.68% y-o-y. Domestic magnesium smelters face mounting inventories due to…
Domestic Mg Prices Stable
09/11/22 | Magnesium
Asian Metal News Mainstream domestic magnesium prices are sitting at RMB 24,100~24,400/t today, holding stable from last Friday. The market remains flat with limited transactions. A norther smelter bought 31 tonnes of magnesium ingot at RMB 24,100/t last Friday and is remaining watchful this week. In view of tepid demand…
Domestic Mg Transactions Increase on Falling Prices
04/11/22 | Magnesium
Asian Metal News Mainstream domestic magnesium prices fell by RMB 400/t from last week to RMB 24,100~24,400/t, resulting in increased transactions this week. Given weaker prices and strong production costs, domestic smelters have tended to halt fierce price competition and hold their prices steady. Industry commentators forecast domestic magnesium prices…
Mg Prices Edge Down Further
01/11/22 | Magnesium
Asian Metal News 1st November: Mainstream domestic magnesium prices slid further by RMB 100/t from last Friday to RMB 24,400~24,700/t led by increasing sales intentions of smelters, but transactions were sparse. Some smelters are keen to sell and will comprise on prices to facilitate sales, however, buyers remain cautious given…
Domestic Mg Transaction Slows
25/10/22 | Magnesium
Asian Metal News Mainstream magnesium prices held stable from last Friday at RMB 25,200~25,400/t, but after a busy trading period last week, transactions fell rapidly this week. Domestic smelters are considering lower offer prices to facilitate sales. In view of easing concerns on supply shortages driven by semi-coke furnace retrofitting,…
Shaanxi Weitian Tengda Suspends Mg Production
21/10/22 | Magnesium
Asian Metal News Shaanxi Weitian Tengda Magnesium suspended operation on 12th October and intends to resume in late October. After suspending operation, Shaanxi Weitian Tengda started maintenance in the wake of shrinking coke gas supply, weakening demand and falling prices after the National Day holiday. The company is set to…
Domestic Mg Prices Rebound
20/10/22 | Magnesium
Asian Metal News Domestic magnesium prices rose by RMB 200/t from last Wednesday to RMB 24,800~25,100/t on 20th October, after the announcement from the local authority of Fugu Shaanxi regarding a 50% capacity cut of 432 local semi-coke furnaces which have sole-furnace capacity of less than 75 ktpy. In anticipation…
Domestic Mg Prices Trend Down Slightly
18/10/22 | Magnesium
Asian Metal News The domestic magnesium market has been flat recently with slowing transactions and declining prices. Mainstream transaction prices dropped by RMB 100/t from last Friday to RMB 24,800~25,100/t today with smelters having to compromise on prices to facilitate sales. In view of continuing sluggish demand and smelters’ increasing…