Fugu Jujinbang Magnesium suspends magnesium ingot production
2021-04-25 08:32:49 [Print]
BEIJING (Asian Metal) 25 Apr 21 - Fugu Jujinbang Magnesium Co., Ltd. stopped magnesium ingot from 22 April for upgrading of coking furnace and predicts to finalize the maintenance in late May with an expectation of 30tpd at that time.
"We suspended magnesium ingot production for coking furnace upgrading since 22 April and the situation will last to late May," said a source from Jujinbang, noting that even though prevailing magnesium ingot prices kept rising since late last week, it is hard for them to get proper profits for magnesium ingot caused by rising coal and ferrosilicon but continuously price inversion for semi coke.
With an annual production capacity of 20,000t, the producer predicts to produce about 660t in April and produced about 1,000t in March. He holds no stock now, unchanged MoM. His total output for magnesium ingot reached about 13,500t in 2020 and he predicts a similar volume in 2021.
In view of rising upstream coal and ferrosilicon prices, tight spot goods and smooth buying activities, mainstream magnesium ingot prices in Shaanxi went up by RMB1,500/t (USD230/t) since late last week to RMB17,000-17,100/t (USD2,615-2,630/t) EXW D/P presently. Buyers purchase the material as scheduled.
"We suspended magnesium ingot production for coking furnace upgrading since 22 April and the situation will last to late May," said a source from Jujinbang, noting that even though prevailing magnesium ingot prices kept rising since late last week, it is hard for them to get proper profits for magnesium ingot caused by rising coal and ferrosilicon but continuously price inversion for semi coke.
With an annual production capacity of 20,000t, the producer predicts to produce about 660t in April and produced about 1,000t in March. He holds no stock now, unchanged MoM. His total output for magnesium ingot reached about 13,500t in 2020 and he predicts a similar volume in 2021.
In view of rising upstream coal and ferrosilicon prices, tight spot goods and smooth buying activities, mainstream magnesium ingot prices in Shaanxi went up by RMB1,500/t (USD230/t) since late last week to RMB17,000-17,100/t (USD2,615-2,630/t) EXW D/P presently. Buyers purchase the material as scheduled.
Magnesium Ingot 99.9%min In ports India
Unit:INR/kg
China's magnesium ingot producers' suspension number statistics by province by month
Unit: pcs
