China's Magnesium Ingot Output Down in March

China's magnesium ingot output stood at 66,000 mt in March, down 3.8% MoM and down 24% YoY, according to SMM statistics. The output totalled 199,000 mt in January-March 2023, a year-on-year decrease of 21%.

Due to weak demand in the downstream market, domestic magnesium prices continued to drop in March, and the profits of primary magnesium factories were severely eroded. The industry's enthusiasm for production thus continued to decline, and some magnesium factories were forced to reduce production due to losses.