China`s 2015 magnesium output seen at 44% of 1.6 mil mt/year capacity
Source: www.chinamining.org Citation: Platts Date: December 24, 2015
China`s magnesium ingot output is seen at 701,005 mt, equating to 44% of the country`s total capacity of 1.6034 million mt/year and down 20% from 2014, trade platform Northeast Asia Magnesia Material Trading Center said Tuesday. It forecast output in December at 58,000 mt, in line with November. However, demand has not increased in December, with producers facing the twin pressures of falling ingot prices and "hardships in selling," the center said. China`s domestic magnesium ingot stood at Yuan 12,100/mt ($1,936/mt) mid-December, down from Yuan 12,300/mt a month earlier, its data showed.
Cutting output or halting production would intensify a funding shortage this close to year end, so magnesium producers will likely delay such moves until the Lunar New Year holiday in February, the center said.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22nd -25th, 2016. We invite you to join the event and to celebrate the 18th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.
