Teuton Resources Corp V.TUO

china shuts down 35 of 50 magnesium smelters

[highper]

Global shortage of magnesium could cripple car industry

Cecilia Jamasmie | October 19, 2021 | 5:18 am Markets Suppliers & Equipment Canada Europe USA Aluminum  

Germany’s first all-electric taxi fleet lined-up in front of the Munich Opera House. (Image courtesy of Jaguar MENA | Flickr.)

The world’s top automakers face disruption from tight global supplies of magnesium, as China’s power crisis threatens availability of the key component used to make aluminum, Germany’s association of metals producers WVM said on Tuesday. 

European magnesium stocks have been particularly affected by the lack of supplies from China, which has a near monopoly on the magnesium market, the association said in a letter to the German government. The worst part of this shortage is about to come, it noted. 

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“It is expected that the current magnesium inventories in Germany and respectively in the whole of Europe will be exhausted by the end of November 2021,” the letter said. 

Magnesium is used for a range of products, especially aluminum alloys, which are used in several auto-parts from gearboxes and steering columns to seat frames and fuel tank covers. 

China, which is Europe’s main magnesium supplier, has ordered roughly 35 of its 50 magnesium smelters to close until the end of the year to conserve power supplies.

https://www.mining.com/global-shortage-of-magnesium-to-cripple-car-industry/

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[highper]

magnesium is on the US strategic reserve list. Tuo and Svg own a significant magnesium property. The Roman claims. Enable GingerCannot connect to Ginger Check your internet connection or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×

[highper]

Today, approximately 85 percent of all magnesium production in the world happens in China. We should have never allowed ourselves to become so dependent on China because now we are facing a critical shortage of magnesium, and that could result in a nightmarish shortage of aluminum…  The source of the shortage is China’s monopoly on global magnesium production. Production curbs of energy

[highper]

spot magnesium prices going for between $4.50 and $6.36 US per pound in europe... In Europe, remaining stocks are going for $10,000-$14,000 a tonne, up from $2,000 per tonne earlier this year, the industry groups said. That would not have been a problem should Beijing not have recently ordered roughly 35 of its 50 magnesium smelters to close until the end of the year to conserve

[highper]

the magnesium deposit adjoining the roman property graded about 25% magnesium.... well magnesium is very costly to smelter but it works out to over 500 pounds per tonne...  just for those who are wondering why i got exercised about the latest magnesium news....Enable GingerCannot connect to Ginger Check your internet connection or reload the browserDisable in this text fieldEditEdit in

[fordster]

I'm always impressed with your knowledge Highper. I can get something fresh off my financial sources and (wouldn't you know it) you've posted it already. Do we really think we stand a chance of pulling out of this struggling economy. I've posted an article on Bitcoin versus Gold (energy requirements for each) A fantastic article...I think you guys will find it very interesting

[highper]

Political discussion doesn't belong on a mining message board.... let's put it this way even dorsey day over at twitter is saying hyperinflation is on its way... and if it is, it will be devastating.....we  are very close to getting a very rude awakening..  Enable GingerCannot connect to Ginger Check your internet connection or reload the browserDisable in this text fieldEditEdit

[fordster]

You know Highper...that never dawned on me....we've had a enough BS arguement that are politically based. Thanks for your points of view and info Highper....this was just for information folks...not intended to open a political discussion folks.