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Mar.29.2024 1USD=7.095RMB
  SteelHome >>Nonferrous Metals>>Market Info>>International Dynamics
 
Mg Imports Turned Downward by 20.1% y-o-y in Feb.

https://en.steelhome.com [SteelHome] 2019-03-28 09:37:47

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Korea’s February import of magnesium fell sharply. According to the Korea International Trade Association, the February import of magnesium was a total of 879 tons, down 20.1 percent from a year ago 1,100 tons. Korea’s magnesium import was 15,965 tons in 2015, 14,418 tons in 2016, 14,396 tons in 2017, and 12,766 tons last year.

Export was 66 tons in pure magnesium in 2013, followed 7 tons in 2014, 95 tons in 2015, 181 tons in 2016, 170 tons in 2017, and 190 tons last year, which soared as much as 11.8 percent year on year.

Korean magnesium market has been pressed over a few years last. Although POSCO began magnesium business specialized in magnesium flat products the Korean magnesium needs faced the substitution materials like aluminum in the major markets which need for magnesium.

In Korea, the materials after the refining processes are barely being offered in tandem with the slippage in magnesium alloys. Furthermore, the magnesium scrap quantities are decreasing at the factory site, leading to the shortage of scrap in the recycling units.

The most serous problem facing the Korean magnesium industry is the need for magnesium being too much tilted in the cellulous phone market, the industry people construed. The commercial production was a flop with the R&D activities too, they added.

Source: Steel&Metal News
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