Asian Metal visits Shengxin, Sanxin, Tianlong and Yulin Energy

On November 29, 2019, Consultant & Senior Product Manager of Asian Metal, Ms. Daphne Zhang visited Fugu Shengxin Magnesium Co., Ltd., Shaanxi Sanxin Co., Ltd., Yulin Tianlong Magnesium Co., Ltd. and Shaanxi Yulin Energy Group Coal I&E Co., Ltd., and was warmly greeted by the above companies.

On the morning of November 29, Ms. Daphne Zhang visited Fugu Shengxin Magnesium Co., Ltd., and exchanged views on the production cost for magnesium ingot and market supply-demand status. Entering 2019, Chinese magnesium ingot plants suffered heavy pressure on low prices and tiny profits.

With an annual production capacity of 20,000t, Shengxin decreased their monthly output for magnesium ingot by half to 700t due to reduction cost for semi-coke. Shengxin gave positive comments on previous magnesium summits held by Asian Metal, planning to participate in the 9th Magnesium Summit to be held by Asian Metal in Hangzhou on April 16-17, 2020.

Later, Ms. Daphne Zhang visited Shaanxi Sanxin Co., Ltd., and had a meeting with General Manager, Mr. Feiyun Dong and Sales Director, Mr. Zhanwu Wang. In order to avoid price competition among magnesium ingot 99.9%min market, Sanxin began to produce magnesium ingot 99.95%min from November and the current quality is up to standard.

Sanxin has been using Asian Metal prices as its pricing guidance when signing purchase and sales contracts. Mr. Wang spoke highly of objective, fair and timely market information provided by Asian Metal and also gave positive comments on previous magnesium summits held by Asian Metal, planning to participate in the 9th Magnesium Summit to be held by Asian Metal in Hangzhou on April 16-17, 2020.

Then, Ms. Daphne Zhang visited Yulin Tianlong Magnesium Co., Ltd., and was warmly greeted by Sales Director, Daniel Chu. They exchanged opinions on the current market state and price trend. Taking the current high production cost and concentrated buying activties before Chinese Spring Festivel holiday into consideration, Mr. Zhu believed prices for magnesium ingot would level off in the coming weeks and prices would fluctuate slightly.

Tianlong Magnesium mainly produces magnesium ingot 99.95%min and sells to titanium sponge plants. By virtue of high quality and service, Tianlong won the trust from clients and kept smooth transactions. As a years-long partner of Asian Metal, Tianlong Magnesium has been referring to market information and prices provided by Asian Metal for long. Mr. Daniel Chu thought highly of objective, fair and timely market information provided by Asian Metal and also gave positive comments on previous magnesium summits held by Asian Metal, planning to participate in the 9th Magnesium Summit to be held by Asian Metal in Hangzhou on April 16-17, 2020.

At last, Ms. Daphne Zhang visited Shaanxi Yulin Energy Group Coal I&E Co., Ltd., and had dinner with General Manager, Mr. Fei Wang, Sales Director, Mr. Chunyuan Shi, Manager, Chong Wang. Both sides held in-depth discussions and exchanged views on the production cost in different regions, market supply-demand status, application and development in magnesium industry and export market status.

Yulin Energy Group Coal I&E Co., Ltd. mainly focuses on the export for coal at present. Relying on their advantages of location, plenty funds and government support, they would start the trading business for magnesium ingot and downstream magnesium products in 2020. Yulin Coal spoke highly of objective, timely and professional information provided by Asian Metal and would attend the 9th Magnesium Summit to be held by Asian Metal in Hangzhou on April 16-17, 2020.