Europe's magnesium shortage to threaten steel production
26 Oct 2021 15:49 reported by Iona Chen
The European industry representatives warned that the EU must take action and ensure the satiable magnesium supply because the stock of magnesium will be exhausted before the end of November, which will threaten the production of various industries, including the steel industry.
The global annual demand for magnesium is 1.2 million tons. China's production of magnesium accounts for 87% and consumption occupied 39%. The consumption in European steel industries accounts for 16% of total consumption. Aluminum alloy and die casting occupy 45% and 33%, respectively.
China's magnesium supply has been suspended or reduced sharply since September due to power cuts. 95% of the EU’s magnesium demand is from China. EU industry representatives jointly appealed that the European Commission and various governments have to arrange emergency cooperation with China to alleviate the serious shortage of magnesium and impact on the supply chain of magnesium for European industries.
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