Fugu Fangzheng Magnesium begin to produce magnesium ingot 99.95%min
2021-01-15 08:29:45 [Print]
BEIJING (Asian Metal) 15 Jan 21 - Fugu Fangzheng Magnesium Co. began to produce magnesium ingot 99.95%min from 13 January and the daily output reached about 20tpd presently. They predict to produce about 340t of magnesium ingot 99.95%min in January and the future output depends on the market demand.
"In order to increase the market competition and reduce the price competition for homogenized product, we started to produce magnesium ingot 99.95%min from 13 January. Our daily output reaches about 20tpd and predict to produce about 340t up till late January," said a source from Fangzheng, noting that they will adjust the output for magnesium ingot 99.95%min after that according to the exact market demand.
With an annual production capacity of 20,000t, the producer produced about 1,200t in December and plans to hold a similar volume in January of 2021, about 860t for magnesium ingot 99.9%min and another 340t for magnesium ingot 99.95%min. His total output for the material reached about 15,200t in 2020 and plans to hold the stable volume in 2021.
Restricted by slow buying activities, prevailing Shaanxi magnesium ingot 99.9%min prices edged down by RMB100/t (USD15/t) from this Tuesday to RMB14,150-14,250/t (USD2,193-2,209/t) EXW D/P presently, and downstream clients purchased the material cautiously. Taking firm production cost into consideration, he predicts mainstream magnesium ingot prices would only have RMB50/t (USD7/t) to edge down in the coming several days discouraged by rare deals. In addition, mainstream prices for magnesium ingot 99.95%min hovered at RMB14,550-14,850/t (USD2,255-2,302/t) EXW D/P, while most downstream clients from titanium sponge plants watched the market and the spot market saw slack movements.
"In order to increase the market competition and reduce the price competition for homogenized product, we started to produce magnesium ingot 99.95%min from 13 January. Our daily output reaches about 20tpd and predict to produce about 340t up till late January," said a source from Fangzheng, noting that they will adjust the output for magnesium ingot 99.95%min after that according to the exact market demand.
With an annual production capacity of 20,000t, the producer produced about 1,200t in December and plans to hold a similar volume in January of 2021, about 860t for magnesium ingot 99.9%min and another 340t for magnesium ingot 99.95%min. His total output for the material reached about 15,200t in 2020 and plans to hold the stable volume in 2021.
Restricted by slow buying activities, prevailing Shaanxi magnesium ingot 99.9%min prices edged down by RMB100/t (USD15/t) from this Tuesday to RMB14,150-14,250/t (USD2,193-2,209/t) EXW D/P presently, and downstream clients purchased the material cautiously. Taking firm production cost into consideration, he predicts mainstream magnesium ingot prices would only have RMB50/t (USD7/t) to edge down in the coming several days discouraged by rare deals. In addition, mainstream prices for magnesium ingot 99.95%min hovered at RMB14,550-14,850/t (USD2,255-2,302/t) EXW D/P, while most downstream clients from titanium sponge plants watched the market and the spot market saw slack movements.
Magnesium Ingot 99.9%min FOB China
Unit:USD/mt
China's magnesium ingot producers' number MoM output increase statistics by province by month
Unit: pcs
