Dallas, TX (PRWEB) March 26, 2014
Magnesium which is featured with low density and high strength can form high-strength alloy with aluminum, copper, zinc and other metals as an important alloying element.
Currently, China is a major producer and consumer of primary magnesium in the world. In 2013, China produced 769,000 tons of primary magnesium which was equivalent to 88.5% of the world and consumed 351,000 tons that accounted for 41.4%.
Meanwhile, China is also the world's major exporter of primary magnesium. China’s export volume of primary magnesium jumped by 21.5% year on year to 212,000 tons in 2013, thanks to the abolished export duty of 10% on magnesium metal and alloy by China since January 1, 2013.
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Chinese primary magnesium is mainly used for the production of magnesium alloy and casting as well as metal reduction, in which magnesium alloy consumes more than 60% of primary magnesium.
Given the broad application prospect of magnesium alloy, Ningxia Hui-Ye Magnesium Marketing, Regal Magnesium, Nanjing Yunhai Special Metals and Shanxi Yinguang have invested in the construction of magnesium alloy projects in recent years.
Ningxia Hui-Ye Magnesium Marketing: The company built a 600,000 sets / a magnesium alloy electric bicycle wheel production line in 2013 to fill the gap of magnesium alloy casting production in Ningxia.
Regal Magnesium: The Phase I of the "50,000 tons / a Magnesium Alloy Transformation and Expansion Project" commenced in May 2013. After the project is completed, the company will be able to produce 21,000 tons of middle refined magnesium and 30,000 tons of magnesium alloy each year.
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Wutai Yunhai Magnesium: In 2010-2015, The company will carry out 50,000-ton High Performance Magnesium Alloy Technology Project, 20,000-ton Magnesium Alloy Scrap Recycling Project and 3,000-ton Magnesium Alloy Casting Construction Project.
Shanxi Yinguang Magnesium Industry: The company's first forged magnesium wheel mass production line was put into operation in 2013 with the annual output of about 500,000.
The report underlines the following aspects:
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