A high-performance Mg-based light alloy material and deep-processing project to be built in Qingyang
2020-09-16 17:53:56 [Print]
On the morning of September 12, the opening ceremony of Jianghuai Online Economic Forum of the World Manufacturing Congress was held in Hefei, Anhui. At the forum, Qingyang city government signed with Baosteel Metal and Yunhai Magnesium Industry on building a 300,000tpa high-performance Mg-based light alloy material and deep-processing project in Qingyang.
The project has a total investment of RMB1.04 billion (USD0.15 billion) from Baosteel Metal and Yunhai Magnesium Industry. When it goes into operation, it will be the world's largest magnesium alloy production base and leading magnesium alloy material innovation center, expected to reach an annual sales revenue of over RMB10 billion (USD1.48 billion) and contribute an annual taxation of over RMB1 billion (USD0.15 billion).
The project has a total investment of RMB1.04 billion (USD0.15 billion) from Baosteel Metal and Yunhai Magnesium Industry. When it goes into operation, it will be the world's largest magnesium alloy production base and leading magnesium alloy material innovation center, expected to reach an annual sales revenue of over RMB10 billion (USD1.48 billion) and contribute an annual taxation of over RMB1 billion (USD0.15 billion).
Magnesium Alloy AM60B FOB China
Unit:USD/mt
China magnesium alloy producers' inventory statistics by month
Unit: mt
