According to SMM data, China's magnesium alloy production in October was 26,000 mt, down 1.5% MoM and 2.6% YoY, bringing total output in the first ten months of 2023 up to about 261,000 mt, up 0.7% YoY.
High magnesium ingot prices in October resulted in low price acceptance by downstream magnesium alloys. Therefore, magnesium alloy demand was sluggish, dragging down magnesium alloy production this month. Domestic magnesium alloy companies will see a pick-up of orders in November. Seeking directions from news about restart of magnesium ingot plants in main production areas, magnesium ingot prices stood low, which is expected to boost magnesium alloy demand. It is expected that magnesium alloy output in November will remain around 27,000 mt.
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