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3 Dec 2021 17:28
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  •   Home > News > Business

    The world's largest users of aluminium could be forced to halt production within weeks amid a "catastrophic" shortage of magnesium across Europe

    The world's largest users of aluminium could be forced to halt production within weeks amid a "catastrophic" shortage of magnesium across Europe


    Magnesium is a key material used in the production of aluminium alloys, which are used in everything from car parts to building materials and food packaging.

    China has a near-monopoly on global magnesium manufacturing, accounting for 87 per cent of production.

    But the Chinese government's efforts to reduce domestic power consumption amid rising energy prices have slowed output to a trickle since late September.

    25 key plants had to shut down and five further plants slashed production by 50 per cent as a result of the power cuts.

    Europe is expected to run out of magnesium stockpiles by the end of November.

    © 2021 Newstalk ZB, NZCity

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