Production of cars around the world may stop next year due to disruptions in magnesium supply in China, which accounts for about 80% of global production of the metal, writes the Financial Times.

About a month ago, authorities in Shaanxi province, a key magnesium mining region in China, had already shut down 35 of their 50 magnesium smelters. The remaining plants had to halve production to save energy.

The magnesium shortage has already increased the cost of magnesium supplies to Europe to record levels - the price went up 75%, exceeding $9,000 per ton.

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Author: Karina Kamalova