SHANGHAI, Mar 8 (SMM)—China’s magnesium ingot output stood at 71,401 mt in February , SMM data showed. Magnesium prices rose before falling in February, and most of the magnesium plants kept stable production. They cleared inventories actively to reduce the risk of inventory buildup after CNY, and raised the proportion of orders for future delivery.
Magnesium prices dropped in March amid rising spot supply. Producers are likely to maintain steady production in March due to the relatively high magnesium prices. In addition, some plants have restarted production recently. China’s magnesium output is expected to rise slightly month on month in March.