China's magnesium ingot output stood at 58,000 mt in May, down 17.3% MoM and down 32.7% YoY, according to SMM statistics. The output totalled 327,000 mt in January-May 2023, a year-on-year decrease of 22.6%.
With the implementation of the semi-coke rectification policy in the main magnesium ingot production areas, the supply decreased sharply. In addition, the sluggish downstream demand and the continuous declines in magnesium prices, caused plants to reduce output. The overall supply thus dropped.
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