Magnesium Ingot Manufacturers in China occupies an important position in the global market. According to the latest data, China’s magnesium metal production reached 933,300 tons in 2022. It accounting for 88.63% of the global total production. China is not only the world’s largest producer of magnesium metal, but also plays a key role in global market.
Mg Ingot Prices
Magnesium Ingot Manufacturer in China are distributed in various provinces in China. Shaanxi Province is the largest production area of raw magnesium in China. The output of raw magnesium in 2022 will be approximately 550,000 tons, accounting for more than 60%. Followed by Shanxi Province, which will produce approximately 200,000 tons in 2022, accounting for more than 20%. The output of raw magnesium in Xinjiang and Inner Mongolia ranks third and fourth in the country. Respectively, with 44,000 tons and 28,000 tons respectively, accounting for approximately 5% and 3% respectively. Anyang Highrise Metal Materials Co., Ltd. is a professional Magnesium Ingot Supplier located in Henan Province. As a typical Magnesium Ingot Factory, we supply Magnesium Ingot including models Magnesium 99.9 and Magnesium 99.95 all year round. Acid-Wash Mg Ingot and Non-Acid Wash Mg Ingot are optional to customers.
In China, magnesium smelting mainly uses the silothermal method (Pidgeon method). This method has simple process, low investment, flexible production scale, and the required raw materials and coal resources are very abundant in China.
Challenge to Magnesium Ingot Manufacturers in China
Over the years, China’s magnesium metal market has shown strong growth momentum. In 2022, the Magnesium Ingot Price in China has skyrocketed. The FOB price exceeding 4,500 USD/Ton, and the market size increasing by 11.65% year-on-year. This increase may be due to the decline of production of Magnesium ingot manufacturers in China. Also because of other factors such as the epidemic, macroeconomic downturn, and the Russia-Ukraine conflict, resulting in tight global supply. However, starting in 2023, the downturn in the global economy and the shrinking of China’s domestic market have caused the price to fluctuate and decline. By the first half of 2024, the FOB price of magnesium ingots has dropped below 2,500 USD/Ton.
The main downstream application areas of the Magnesium metal industry include magnesium alloy deep processing products, aluminum alloy additives, sponge titanium, and steel desulfurization. Among these applications, magnesium alloy deep processing products account for a larger proportion, about 41%. Secondly, the aluminum alloy additives, accounting for 34%. And the proportions of titanium sponge and steel desulfurization are respectively 16% and 9%. With magnesium alloy , Aluminum alloy gradually replaces steel, the market demand is growing, and the corresponding market demand for magnesium ingots will also increase.
Overall, China’s magnesium metal industry occupies a dominant position in the global market. As a result of China’s scale advantage and mature production technology. Magnesium and magnesium alloys, as a kind of light metal material, are known as “the green engineering materials with the most development and application potential in the 21st century”. In the long term, they have good development momentum and huge potential. However, with the fluctuations of the global economy and changes in the external environment, China’s magnesium metal industry also needs to constantly adapt to new challenges and opportunities.