China's Magnesium Ingot Output Stood at 81,300 mt in June and will Continue to Fall in July

SHANGHAI, July 5 (SMM) - China's magnesium ingot output stood at 81,300 mt in June, down 5.31% MoM and up 18.04% YoY, according to SMM statistics. The output totalled 503,700 mt in January-June 2022, a year-on-year increase of 24.94%.

According to SMM, the output of some magnesium plants declined due to the high temperature and the decline of domestic magnesium prices. The magnesium plants chose to reduce the production for maintenance to balance the supply and demand. According to the current production plans, some magnesium plants in major producing areas still have maintenance plans in July. Therefore, the magnesium ingot output will continue to fall in July. The overall output is estimated at 75,000 mt in July. SMM will pay further attention to the maintenance of magnesium plants in major producing areas in summer.