Asian Metal visits Baowu Magnesium

On May 31, Mr. Hao Zhao, Marketing Director of Asian Metal, and Ms. Daphne Zhang, Consultant & Senior Product Manager for Magnesium Industry of Asian Metal, visited Baowu Magnesium Technology Co., Ltd.

On the morning of May 31, Mr. Hao Zhao, Marketing Director, and Ms. Daphne Zhang, Consultant & Senior Product Manager, came to Nanjing Welbow Light Metal Precision Manufacturing Co., Ltd., and met with Mr. Weijun Zhi, Assistant General Manager and General Manager of Magnesium Products Division of Baowu Magnesium Technology Co., Ltd., and Mr. Frank Wu, General Manager of Nanjing Welbow Metal Trading Co., Ltd. Mr. Zhi highly affirmed the influence of Asian Metal in the global magnesium industry, and conducted in-depth understanding and discussion on Asian Metal's pricing mechanism and market analysis.

Afterwards, Asian Metal delegation visited Chizhou Anhui Baomei Light Alloy Co., Ltd. to inspect the progress of the project construction, and held talks with Mr. Qiangmin Wang, Chairman of Baosteel Metal and General Manager of Baowu Magnesium, Mr. Changchun Li, Senior Vice President of Baosteel Metal, Executive Vice President of Baowu Magnesium Technology Co., Ltd., and Chairman of Anhui Baomei Light Alloy Co., Ltd., Mr. Xiaodao Liu, Deputy General Manager of Baowu Magnesium and General Manager of Anhui Baomei Light Alloy Co., Ltd., and Mr. Zhengwen Zhang, Sales Director of Magnesium Materials Division. During the meeting, Mr. Qiangmin Wang learned about the price collection method and pricing mechanism of Asian Metal, and conducted in-depth discussions on the global magnesium supply and demand. At the same time, Mr. Qiangmin Wang claimed that as a sentimental state-owned enterprise, Baowu Magnesium will achieve the mass production target of magnesium products as expected, and will make efforts to promote product applications, so that small metal magnesium can be transformed into medium-sized metal in the future development. It is also hoped that through the joint efforts of Baowu Magnesium and the magnesium industry, magnesium can further play an important and unique role in the lightweight process of automobiles and large transportation. In the context of low carbon, the European and American markets pay great attention to the carbon emission index of magnesium products and expect that the carbon emission index may be a key point for the promotion of magnesium products in the automotive industry. The circular magnesium industry chain will also become the development model of Baowu Magnesium's global layout.

On the afternoon of May 31, a delegation from Asian Metal visited Chaohu Yunhai Magnesium Co., Ltd. and held cordial talks with Mr. Zhifang He, General Manager of Chaohu Yunhai Magnesium, Mr. Zhengwen Zhang, Sales Director of Magnesium Materials Division, Mr. Anran Jin, Sales Manager, and Mr. Bing Gao, General Manager of Yian Yunhai Technology Co., Ltd. The two sides conducted in-depth discussions on the current supply and demand situation of the magnesium market, production costs, policy directions, shipping risks and application promotion.

As a long-term member of Asian Metal, Baowu Magnesium has long paid attention to and referred to Asian Metal's market reports and market prices, and highly praised Asian Metal's objective, timely and accurate information, and highly appreciated the previous magnesium summits. As a leader in the field of global light metal materials, Baowu Magnesium has complete product R&D and manufacturing capabilities. The market share of magnesium and magnesium alloy products is leading in the world, forming a complete magnesium industry chain of "Dolomite Mining-Raw Magnesium Smelting-Magnesium Alloy Smelting-Magnesium Alloy Processing-Magnesium Alloy Recycling". The Wutai plant could produce 50,000t of magnesium ingot and 70,000t of magnesium alloy; the Chaohu plant produces 50,000t of magnesium ingot and 150,000t of magnesium alloy; the Huizhou plant produces 30,000t of magnesium alloy; the Qingyang plant is currently under active promotion, and the new production lines of Chaohu and Wutai plant are being built. It is expected that the additional magnesium production would reach 450,000t in 2026.