SHANGHAI, Jun 9 (SMM) — China's magnesium ingot output stood at 694,000 mt in May, down 3,000 mt or 4.11% month on month. The output totalled 321,200 mt from January to May.
68% of the increment in the output came from Shaanxi, and 19% came from Shanxi. SMM expects the operating rates of magnesium industry to be 62.70% in May, down 4.91% month on month, but up 64.42% year on year. The overall output of magnesium ingot decreased on the month due to the maintenance in the major production regions. However, magnesium alloy ingot producers raised the production of common magnesium ingots driven by the profits amid rising magnesium prices.
According to the current production schedule, the magnesium plants in Xinjiang are expected to resume production from maintenance in June, while a lot of magnesium plants will conduct maintenance in June and July. At the same time, some plants that were overhauled in May will resume production, and the overall output in June is expected to stay in dynamic balance around 71,000 mt.
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