Europe Is Running Out of Aluminum in Four Weeks
Oct. 30, 2021 (EIRNS)—European producers are sounding the alarm over a scarcity of aluminum, whose stocks will be exhausted at the end of November, says the Wirtschaftsvereinigung Metalle (WV Metalle), the organization which represents the non-ferrous metals industry in Germany. According to accounts in European media, the pending shortage is due to the stop in magnesium production in China, due to climate measures.
The city of Yulin in Shaanxi province, the base for China’s massive magnesium production, released an order in September to drastically reduce energy consumption, which is hitting energy-intensive industries, especially magnesium. The province produces 60% of Chinese magnesium. China produces 90% of world magnesium, a key component in producing aluminum. Magnesium is abundant on Earth, but in order to be extracted it must be smelted at over 1,000°.
Magnesium prices have skyrocketed. A business contact in Switzerland told EIR that manufacturers in Europe have turned to Turkey for substituting imports.
Earlier this year, the EU had imposed import tariffs on Chinese aluminum, but, since suspending them until next year due to the critical economic situation.