China's Magnesium Powder Output Stood at 6,900 mt in June amid the Weak Demand

SHANGHAI, July 5 (SMM) - China's magnesium powder output stood at 6,900 mt in June, down 4.10% MoM. The output totalled 43,000 mt in January-June 2022.

The domestic magnesium powder output continued to decline in June. According to the magnesium powder sellers, the demand from steel mills was still weak. Although magnesium prices fall stably recently, the overall prices are still higher than expected. In addition, the domestic steel demand is less resilient and the transactions with high prices are poor. Therefore, the market have a strong bearish sentiment. It is expected that the magnesium powder output will be 6,700 mt in July amid the weak market.