Magnesium shortage raises potential for ‘catastrophic impact’, cross-industry coalition warns • A group of European industry players, including Eurometaux and Metals Packaging Europe have expressed grave concern over the lack of available magnesium. • 95% of Europe’s magnesium supply comes from China, with recent production curbs on smelters placing immense pressure on supply. • Magnesium is key to aluminium, iron and steel producing. • The shortage is impacting end-use sectors including automotive, construction and packaging. • Magnesium has increased from lows of $2,000/t this year to a current range of $10,000t to 14,000t. • Stocks in Europe are forecast to run out by November. |