"In the last two years, China's magnesia industry has developed very quickly," [Christopher Zhao] said. He pointed to the government-backed drive to consolidate magnesia production into a few large enterprises, which can exercise advantages such as economies of scale and funded R&D programmes.
To support this trend, the new exchange platform, which began operating in March 2014, will establish a "healthy trading environment", Zhao said, through the regulation of magnesia transactions and the establishment of a "magnesia index".
According to figures quoted by Zhao, China exported just over 663,000 tonnes dead burned magnesia (DBM) in 2014, up 39% on 2013's figure of 476,000 tonnes, while fused magnesia (FM) exports climbed 22% last year to 369,000 tonnes, up from 302,000 tonnes the previous year. These exports were worth $186.5m and $213.5m tonnes, respectively, to the Chinese economy on 2014.
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