LONDON - China's magnesium exports nearly doubled in November from the same month a year earlier as production ramped up alongside the lifting of restrictions on power use by energy-intensive industries, easing fears of shortages in Europe.
China supplies around 85% of the world's magnesium - a key element in aluminium alloys used to make auto parts.
The country exported 36,160 tonnes of high-purity unwrought magnesium in November, Chinese customs data showed, compared with 24,329 tonnes in October and 18,829 tonnes in November 2020.
Magnesium prices have fallen back to around $8,800 per tonne having hit all-time highs of $16,250 per tonne in October.
(Reporting by Pratima Desai and Beijing newsroom; editing by Tomasz Janowski) ((email@example.com; +44 207 513 5681;))