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.
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