The lower output and export estimate is attributed to the domestic magnesium sector having been plagued with difficulties, including low prices.
The center forecast Chinese domestic magnesium prices would be in a range of Yuan 12,500-13,800/mt ($2,000-$2,208/mt) in 2015. Back in 2014, the domestic price range was Yuan 13,600-15,200/mt, giving an average price of Yuan 14,742/mt, the center figures showed.
Despite China's average annual magnesium output growth in 2010-14 having reached 5.59%, consumption growth in 2015 is weak due to the situation in the semi-coke and other magnesium-related industries, thus cutting domestic magnesium output this year, the center said.
It said that despite a marginal increase in magnesium output in Ningxia Hui Autonomous Region in January-September, other major production zones in China, including Shanxi and Shaanxi provinces, both posted falls due to lackluster demand from the domestic downstream processing sector.
China produced 598,200 mt refined magnesium in January-September, down 5% year on year, figures from China Nonferrous Metals Industry Association show.
