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A summary of China’s refractory raw materials exports in May 2022.
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The supply and inland logistics in China’s magnesia sector improved in the first two weeks of June because there was no increase in the numbers of Covid-19 cases in the production hubs in Liaoning province, but magnesia prices have softened due to the increasing supply.
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A summary of China’s refractory raw materials exports in April 2022.
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United Kingdom-listed refractory products manufacturer Vesuvius says it has recorded a 60% year-on-year increase in its trading profit for January-April on higher prices.
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Global refractories supplier RHI Magnesita warned of further price increases driven by energy and freight costs, including air-freight delivery to customers, in a trading report on the first quarter of 2022, published on Thursday May 12.
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Magnesia supply and inland logistics were still being affected by waves of Covid-19 infections in China in the week to Thursday May 12, with the overall market remaining static.
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A summary of China’s refractory raw materials exports in March 2022.
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Magnesia production and domestic logistics were still being disrupted in the Chinese city of Haicheng, with two more new cases reported on Monday April 11, and delays to most deliveries, market sources have told Fastmarkets.
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China’s magnesia market remained static because of the new wave of Covid-19 infections, while logistics in Haicheng and Dashiqiao remained under strict control.
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A summary of China’s refractory raw materials exports for the first two months of 2022.
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China’s magnesia market was static in the week to Tuesday March 22 because of a recent resurgence in Covid-19 infections, which has resulted in strict controls on production and logistics in Haicheng and Dashiqiao, sources have told Fastmarkets.
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The magnesia market in Europe is suffering logistical disruptions driven by the Russia-Ukraine war, with local producers also plagued by increased energy and transportation costs. China’s magnesia market, meanwhile, remains calm but there is growing concern about production and domestic logistics amid a resurgence in Covid-19 cases.
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China’s magnesia market softened in the two weeks to Thursday March 10, with supply increasing after production was resumed in late February, and sellers lowering their prices to test the market. Separately, authorities in the city of Dashiqiao have released their latest consolidation plan for the local magnesite sector.
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United Kingdom-registered global refractory company Vesuvius has suspended deliveries to Russia “for the duration of hostilities,” it said in a financial report published on Thursday March 3, also noting that revenue increased in 2021.
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Production of magnesia in Haicheng and Dashiqiao, in China’s Liaoning province, has started to recover this week, according to market participants. And the local government in Haicheng has pushed forward the consolidation of the local magnesite industry based on a plan set out last year.
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European magnesia prices jumped amid stronger demand over the past month, while the China market was quiet with most producers still facing production halts due to environmental regulation in Liaoning province.
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China’s magnesia export market was flat in the week to Tuesday January 25 with the approach of the lunar new year holiday, January 31-February 6, with overseas buyers taking a watchful stance and in no hurry to buy. There will be limitations on magnesia production in Liaoning until the middle of March.
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The roll-out of mass Covid-19 testing in the major Chinese port city of Tianjin has created chaos for the area’s logistics, sources told Fastmarkets on Monday January 10.
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China’s magnesia market was quiet after the new year holidays, with most prices stable. The government of Liaoning has started a new round of environmental inspections, which will last till March 13.
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Fused and dead burned magnesia prices outside China edged lower in the month to Wednesday December 22, with the market coolomg down after restoration of production in China.
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Fastmarkets opened a consultation on Monday November 8, inviting feedback on its pricing methodology for industrial minerals, in line with our annual methodology review process.
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Refractory materials producer Vesuvius has bought United States-based Universal Refractories, a speciality refractory producer, for £42.6 million ($56.7 million), UK-based Vesuvius announced Thursday December 2.
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A summary of China’s refractory raw materials exports in October 2021.
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Passenger car sales in the European Union declined month-on-month in October 2021 due to the continuing global shortage of semiconductors for use in onboard electronics, making it the fourth consecutive month to show a double-digit percentage decrease.
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China’s magnesia prices have softened on falling production costs amid the availability of cheaper coal and increasing supply, though logistics in the country have slowed down due to heavy snow and a rising number of Covid-19 cases in parts of the country, sources told Fastmarkets.
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Fastmarkets is inviting feedback from the industry on its pricing methodology for industrial minerals, as part of its announced annual methodology review process.
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China’s Liaoning province was to stop its regime of power cuts and allow power supplies to return to normal from 8pm Beijing time on Friday November 5. The production of fused magnesia would also be able to return to normal, sources told Fastmarkets.
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The upward trend in China's fused magnesia prices has slowed in anticipation of increased supplies after a partial resumption of production in Liaoning province.
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World crude steel production fell by 6.48% month on month in September, again driven lower by declining Chinese output.
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A summary of China’s refractory raw materials exports in September 2021.
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The power cuts policy in China’s Liaoning province, the production hub for magnesia, has led to persistently tight supply and higher offer prices for fused magnesia (FM). And more overseas buyers were showing enthusiasm for magnesia from other origins, sources said this week.
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United Kingdom-listed global refractory producer RHI Magnesita announced a "significant" price increase for the fourth quarter of 2021, driven by increased logistics and energy costs, with China’s power shortages likely to add pressure, it said in a third quarter trading update released on Tuesday October 19.
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Liaoning province in China has imposed strict power cuts and set up alternating periods of operation among fused magnesia producers in October, which has pushed the prices for fused magnesia to a two-year high and could further tighten the supply if the power cuts policy continues, market sources have told Fastmarkets.
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The congestion at major ports that has affected shipping operations for metals and minerals on the China-to-Europe route is set to worsen in the next three or four months, sources told Fastmarkets during last week’s International Colloquium on Refractories conference in Aachen, Germany.
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A summary of China’s refractory raw materials exports in August 2021.
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Export prices for China-origin caustic calcined magnesia and dead burned magnesia have increased because of higher production costs and a strict regime of environmental regulations, Fastmarkets has heard.
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The local government in the city of Anshan, in China’s Liaoning province, has pushed forward its plan for the consolidation of the magnesite industry in Haicheng and Xiuyan, and was expected to eliminate 26 awards of magnesite mining rights, according to official news on Thursday September 2.
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China’s magnesia export prices were broadly stable in the week to Tuesday August 10, with little market activity and only a few deals booked, while higher freight fees continued to create delays in global logistics.
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UK-registered refractory company Vesuvius increased its revenue in the first six months of 2021. But prices were set to rise, to offset higher freight costs and inflationary pressures on raw material prices, the company reported on Thursday July 29.
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China’s magnesia export prices were largely unchanged due to thin buying activity in the market, with high freight rates and slow global logistics continuing to curb overseas demand.
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A summary of China’s refractory raw materials exports for May 2021.
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China’s magnesia export prices were mostly steady and demand showed no improvement on the week to Tuesday June 15, while the local government in Liaoning province reaffirmed its consolidation plan for the magnesite industry and continued to push this forward.
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The publication of Fastmarkets’ European magnesia price assessments for Tuesday June 15 were delayed due to an error in the peer review process.
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The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to a draft of the EC’s proposal seen by Fastmarkets on June 10.
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Chinese caustic calcined magnesia prices were steady on Tuesday June 8 due to ongoing tight supply and high production costs, but buyers remained cautious and expected a decline in the market.
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A rise in Covid-19 cases in China’s Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays in southern China.
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The chaos being experienced in the global container shipping industry is expected to continue for some time with a shortage of an estimated four million boxes creating havoc with congestion, routes and freight rates, according to an executive at logistics conglomerate DP World.
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A summary of China’s refractory raw materials exports for April 2021.
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Chinese magnesia prices held steady on Tuesday May 18 due to thin buying activity, while market participants are keeping a watchful eye on new Covid-19 infections reported in Bayuquan district in Yingkou city, Liaoning province, which could affect magnesia deliveries through Bayuquan ports.
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Authorities in China's Yingkou prefecture have implemented strict entry and exit rules in Bayuquan district on Friday May 14 after a person testing positive for Covid-19, prompting concerns about shipments of magnesia through Bayuquan port.
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