China December Magnesium powder Output and Forecast for January

Published: Jan 11, 2024 11:30

Source: SMM

Save

SMM data showed that China's magnesium powder production in December was 5,788 mt, up 1.4% MoM, bringing total output from January to December 2023 up to 65,000 mt.

Magnesium powder market performed well in December, with most producers arranging tight production schedule and some in full swing. The person in charge of a large magnesium powder company said that sluggish domestic economy fed into poor profit of steel mills, making downstream buyers prudent. Affected by Houthi’s attack on merchant ships in Red Sea, magnesium powder whose exports accounted for a large proportion of total export in China witnessed a big rise in sea freight fees, which may tame overseas orders. SMM predicted that domestic magnesium powder output will dip to 5,000 mt in January.

Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

Chinese Firm Proposes Magnesium Alloy Project in Turkmenistan to Boost Bilateral Cooperation

[SMM Magnesium Express] At the recent Turkmen-Chinese business forum in Ashgabat, China's Shaanxi Yulin Energy Group proposed establishing a magnesium alloy production project in Turkmenistan. The project aims to combine Turkmenistan's raw material base with the company's technological expertise to create new production capacity and expand bilateral cooperation in resource processing and industrial development.

19 hours ago

[SMM Magnesium Survey] Chinese Firm to Build Magnesium Plant in Turkmenistan Amid Brazil's Anti-Dumping Duties Hike

A Chinese energy and chemical firm plans to build a magnesium alloy project in Turkmenistan, leveraging local resources and Chinese technology. Meanwhile, Brazil sharply raised anti-dumping duties on Chinese magnesium ingots to $4.07/kg, effectively closing direct export channels.

19 hours ago

Brazil Raises Anti-Dumping Duty on Chinese Magnesium Ingots, Impacting Global Trade Landscape

[SMM Magnesium Express] Brazil has recently significantly increased the anti-dumping duty on magnesium ingots originating in China from US$1.18/kg to US$4.07/kg. This measure, which dates back to 2004, has undergone multiple sunset reviews. The current adjustment follows a review initiated at the request of Brazilian domestic enterprises and takes effect from the date of publication. Brazil's primary magnesium output is only ~22,000 t/yr, while import demand reaches 300,000–400,000 t/yr. However, China currently exports almost no magnesium ingots to Brazil. The move could divert other regional supplies into Brazil, indirectly impacting global trade flows of Chinese magnesium downstream and finished products.

19 hours ago