China March magnesium alloy output and April forecast

China's magnesium alloy output was 26,550 mt in March, up 33.3% MoM and 5.9% YoY.

In March, the operating rate of downstream magnesium alloy processing enterprises improved, and orders rebounded. Major magnesium alloy plants resumed normal production, with the output increasing by 33%. Affected by downstream production suspension during CNY, magnesium alloy production significantly reduced. As downstream operating rate gradually rose, magnesium alloy orders in March increased by 33% MoM. Undermined by the sluggish domestic economy, the overall demand is sluggish. Driven by rising aluminum prices, cost performance of magnesium alloys became increasingly prominent. Orders may inch up in April. SMM predicts that magnesium alloy production will increase to 27,000 mt in April.