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Title : China's Magnesium Crunch Will Severely Damage The Global Economy
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China's Magnesium Crunch Will Severely Damage The Global Economy

Bloomberg: Magnesium Buyers Warn Crunch Threatens Millions of European Jobs 

(Bloomberg) -- Europe’s magnesium shortage could shutter industrial operations within weeks, threatening thousands of businesses and millions of jobs in sectors from cars to packaging, associations warned. 

Chinese exports of magnesium -- a critical material for hardening aluminum alloys and used in everything from power tools to laptops -- has plunged as the nation cuts output because of an energy crunch. 

That’s caused prices to spike and left buyers worldwide exposed. 

Europe, which buys 95% of its magnesium from China, is expected to run out of the metal by the end of November, a group of industry associations including European Aluminium, Eurometaux and industriAll said on Friday. 

Production shortages, factory closures and job losses could follow unless reserves are replenished, they said.  

Read more ....  

WNU Editor: The economic hits keep on coming. And this hit is a bad one.

China is acknowledging that they have problems .... Chinese magnesium exports likely to drop 10% in 2021 amid global shortages (Global Times). 

More News On China's Magnesium Supply Crunch  

EU in talks with China on magnesium shortages -- Reuters  

EU leaders warn of risk to industry over shortage of magnesium from China -- Financial Times  

EU leaders signal alarm over Chinese magnesium crunch -- Politico  

China's power issue may make the global car shortage much worse -- FOX News

Update: Speaking of more hits .... U.S. Propane Market Headed for ‘Armageddon’ This Winter, IHS Says (Bloomberg).

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