China's magnesium capacity on course to quadruple in next five years
Oct 14, 2010 | 12:31 PM
China's oversupplied magnesium industry is set to nearly quadruple capacity in the next five years, according to Wu Xiuming, magnesium division head at the China Non-Ferrous Metals Industry Association (CNIA).
China's magnesium capacity currently stands at 1.3 million tonnes per year, and another 3 million tonnes of capacity is under construction and due to be completed within the next five years, Wu said at the annual China Magnesium Conference in Yinchuan in northcentral Ningxia province. "Most ongoing magnesium smelting projects are in the category of low-end duplication," Wu said.
Chinese smelters produced 426,884 tonnes of magnesium metal in the first eight months of this year, up 51 percent from the same period last year. Production is rising so quickly that the proportion of magnesium exported so far this year has fallen to 59 percent from around 70 percent a year earlier, Xu Jinxiang, vice president of CNIA's magnesium division, said.....
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