Magontec Limited (AU:MGL) has released an update.
Magontec Limited has navigated through a period of intense magnesium price volatility, influenced by factors such as U.S. supply disruptions, Chinese environmental policies, and fluctuating coal prices. While high magnesium prices have historically boosted the company’s profits, recent price drops have affected volume and profitability, especially in European recycling operations. However, the company anticipates a recovery as primary magnesium alloy volumes from the Qinghai project increase, stabilizing profitability.
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