Magnesium Crisis Is Showing Signs of Easing
- Chinese producers are restoring output in key province: SMM
- Supply crunch triggered warnings from users around the world
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Magnesium buyers hit hard by a shortage of the critical material for hardening aluminum used in cars have some good news -- there are signs the supply crisis in top producer China is easing.
Prices recently hit a record as Chinese exports slid after an energy crunch cut output of magnesium used in everything from laptops to power tools. That sparked warnings about knock-on issues for aluminum used in the struggling auto sector, and industry groups in Europe said they’ll run out of supply by late November, threatening thousands of businesses and millions of jobs.