Ann: 2021 Half Year Net Profit After Tax A$23.5 Million, page-53

Ferroglobe at another high of US$8.31/share with a market cap of US$1.48 billion  whilst ASX idiots continually sell down OMH.

China’s magnesium price surges amid higher production costs and supply shortage
The magnesium branch of China Nonferrous Metals Industry Association (CNIA) published a proposal on August 27 calling for the healthy development of the magnesium industry. This came amid surging metal prices.
Fastmarkets’ weekly price assessment for magnesium, 99.9%, exw China, was 25,000-26,000 yuan ($3,862-4,017) per tonne on Friday August 27, an increase of 2,800-3,600 yuan per tonne or 14.3% from 22,200-22,400 yuan per tonne a week earlier.

Sources told Fastmarkets that more expensive input costs, such as for coal and ferro-silicon, add to magnesium producers’ production costs. Thus producers are very firm about raising prices.

“The coal price keeps rising in China due to a supply shortage. Demand for coal is robust in the hot summer, the peak power usage time,” a trader told Fastmarkets.


Electricity curtailment is expected to heat the ferrosilicon spot price in the ferroalloy market to a record high

The increasing coal prices have pushed up downstream ferro-silicon prices, sources said.

Power curtailment is expected to heat the ferrosilicon spot price in the ferroalloy market to a record high] Since last week, the main ferrosilicon contract in the domestic futures market has continued to "dominate the screen" increase list. On August 30, the main contract of ferrosilicon and manganese silicon will be more expensive. Both closed at the daily limit, and the ferroalloy market became hot.