Output of Magnesium Alloys Expected to Rise Slightly in September

SHANGHAI, Sep 8 (SMM) - China's magnesium alloy output stood at 25,900 mt in August, down 7.26% MoM and up 41.87% YoY, according to SMM statistics. The accumulative output from January to August was 205,300 mt, down 16.04% from the previous year.

The average operating rate of magnesium alloy industry stood at 45.62% in August, down 7.26% on the month and up 35.21% on the year. In August, the downstream orders for magnesium alloys were relatively weak, leading to a slide in the operating rates of magnesium alloy plants. A salesperson of a large magnesium alloy plant said that the recent overseas orders were poor because inquiries from the European downstream enterprises were rarely heard due to the energy crisis. Therefore, despite the traditional peak season in September, the recovery of the magnesium alloy market was relatively limited. It is estimated that the output of magnesium alloys in September will slightly add 27,000 mt.