Asian Metal attends 76th Magnesium Conference held by IMA in Hungary

From May 15 to 17, 2019, Ms. Daphne Zhang, Consultant & Senior Product Manager of Asian Metal attended the 76th Magnesium Conference held by International Magnesium Association (IMA) in Budapest, Hungary, and had in-depth communication and discussion with counterparts from the global magnesium community on the supply-demand status quo and future development trend of the magnesium market.

Participants paid attention to the following topics: Firstly, China is the main production area of magnesium metal, and its production status and price trend of magnesium plants have big influence on the global market; secondly, the price gap between magnesium ingot with VAT included and with VAT excluded is shrinking, and some end users start to adjust their procurement strategy; thirdly, the European car market is in the period of transformation of new energy and traditional models at present, so the consumption volume for magnesium alloy decreases. Given this situation, most magnesium alloy plants are hard to guarantee full operation rate and they cut their output slightly. Anyway, even though the application for magnesium grows slowly, magnesium insiders still have strong confidence in the market trend and expect to see a bright future in magnesium industry.

Many downstream consumers take Asian Metal prices as index, meanwhile, they spoke highly of Asian Metal for the timely, objective and professional information it has been providing.