China's Magnesium ingot Output In September And Forecast For October

SHANGHAI, Oct 11 (SMM) –

According to SMM data, China's magnesium ingot output stood at 53,000 mt in September, 2.4% MoM and 35% YoY, bringing total output in the first nine months of 2023 up to 538,000 mt, down 26% YoY.

September saw production cuts and halts of magnesium plants in main production area amid equipment issue. Currently, there was no relevant resumption-related documents. The production cuts will linger. Aside from policy factor, maintenance of a few magnesium ingot plants in the main production areas was also responsible for the drop in magnesium ingot output. The plants already resumed normal operation. Current inventory of magnesium plants in the main production areas shrank to a safe level. With forthcoming peak season in Q4, magnesium ingot production in other regions is expected to hike. An estimated domestic magnesium ingot production will increase to 55,000 mt in October.