Taiyuan Kangmei stops magnesium alloy production
2023-03-30 07:48:04 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Taiyuan Kangmei Technology Co. stopped magnesium alloy production since 25 March and predicts to resume the production in the middle of April. He produced about 300t of magnesium alloy in March and predicts to produce about 350t of the metal in April.
With an annual production capacity of 10,000t, the producer predicts to produce about 300t of magnesium alloy in March and plans to produce about 350t of the metal in April. He holds no stock now, unchanged from last month. He produced about 1,200t of the metal in Q4 of 2022 and predicts to produce about 1,100t in Q1 of 2023.
"Taking slow demand from die casting plants into consideration, Chinese magnesium alloy market moved slowly on the whole; additionally, given continuous low-price level for magnesium alloy, we had no interests in a stable production and stopped the production since late March," said a source from Kangmei, adding that he produced about 300t of magnesium alloy in March and plans to produce about 350t in April.
The mainstream Chinese magnesium alloy prices hovered at the range of RMB22,400-22,700/t (USD3,246-3,289/t) EXW D/P, unchanged from early this week, and downstream buyers purchased the metal cautiously. Insiders are of the opinion that the mainstream Chinese magnesium alloy prices would stay weakly stable in the forthcoming days given weakening demand among die casting plants and weakly stable prices for magnesium ingot.
With an annual production capacity of 10,000t, the producer predicts to produce about 300t of magnesium alloy in March and plans to produce about 350t of the metal in April. He holds no stock now, unchanged from last month. He produced about 1,200t of the metal in Q4 of 2022 and predicts to produce about 1,100t in Q1 of 2023.
"Taking slow demand from die casting plants into consideration, Chinese magnesium alloy market moved slowly on the whole; additionally, given continuous low-price level for magnesium alloy, we had no interests in a stable production and stopped the production since late March," said a source from Kangmei, adding that he produced about 300t of magnesium alloy in March and plans to produce about 350t in April.
The mainstream Chinese magnesium alloy prices hovered at the range of RMB22,400-22,700/t (USD3,246-3,289/t) EXW D/P, unchanged from early this week, and downstream buyers purchased the metal cautiously. Insiders are of the opinion that the mainstream Chinese magnesium alloy prices would stay weakly stable in the forthcoming days given weakening demand among die casting plants and weakly stable prices for magnesium ingot.
