EU Industry Warns May Run Out Of Magnesium Stocks By End Of November

European businesses called on authorities on Friday to urgently tackle the issue of insufficient magnesium supplies from China, which may result in production shutdowns, as existing stocks might come to an end by late November

MOSCOW (UrduPoint News / Sputnik - 22nd October, 2021) European businesses called on authorities on Friday to urgently tackle the issue of insufficient magnesium supplies from China, which may result in production shutdowns, as existing stocks might come to an end by late November.

"Europe's industry associations European Aluminium, Eurofer, ACEA, Eurometaux, industriAll Europe, ECCA, ESTAL, IMA, EUWA, EuroAlliages, CLEPA and Metals Packaging Europe have today issued an urgent call for action against the imminent risk of Europe-wide production shutdowns as a consequence of a critical shortage in the supply of magnesium from China," the joint statement of business groups read.

Magnesium is a key element for metal production. Its shortage threatens the EU with production shutdowns, closures of businesses, and consequent job losses.