[SMM analysis] Total exports of magnesium products fell 20.41% from January to February 2020 compared with the same period last year.

Published: Apr 12, 2020 06:12

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From January to February 2020, China's magnesium ingot exports totaled 25736.682 tons, down 34.66 percent from the same period last year, with an export value of 404 million yuan, while the total export volume of six kinds of tax magnesium products was 61724.85 tons, down 20.41 percent from the same period last year, with a total export value of 1.024 billion yuan.

April 12, 2020: on Friday, the Ministry of Commerce said that since the beginning of this year, affected by the epidemic of Xinguan pneumonia, China's foreign trade development has not been faced with severe challenges for many years. From January to February, China's imports and exports, exports and imports fell by 9.6%, 15.9% and 2.4%, respectively.

Statistics from the General Administration of Customs show that from January to February 2020, China's magnesium ingot exports totaled 25736.682 tons, down 34.66 percent from the same period last year, with an export value of 404 million yuan; magnesium alloy exports totaled 24364.574 tons, up 10.5 percent from the same period last year, and the export value was 417 million yuan; magnesium powder exports totaled 10041.812 tons, down 30.95 percent from the same period last year, and the export value was 164 million yuan. The export volume of magnesium products was 529.966 tons, down 26.43% from the same period last year, and the export value was 15.4548 million yuan; the export volume of magnesium processed materials was 263.466 tons, down 23.51% from the same period last year, and the export value was 11.6108 million yuan RMB; and the export volume of magnesium scrap was 788.35 tons, up 50.32% from the same period last year, with the export value of 12.2016 million yuan.

From January to February 2020, the total export volume of China's six duty magnesium products was 61724.85 tons, down 20.41% from the same period last year, with a total export value of 1.024 billion yuan. Among them, the export volume of magnesium ingots, magnesium powder, magnesium products and magnesium processed materials all decreased by more than 20% compared with the same period of 2019. The main reason is that most enterprises have the phenomenon of reducing or stopping production due to the outbreak of the new crown epidemic in China in February. (according to SMM statistics, the domestic magnesium ingot output in February 2020 is about 20% lower than that in January), and traffic control has greatly reduced the efficiency of freight transportation.

"after the first half at home, the second half of the foreign relay," although the current situation of resumption of work and resumption of production in China has gradually improved, magnesium ingot production and downstream domestic demand have increased, but affected by the foreign epidemic, exports in March are expected to decline significantly.

Import and export output operating rate production capacity

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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