Prices of some refractory products in Europe could rise because of price rises of up to 100% in raw materials imported from China. The raw materials include bauxite, magnesia and graphite. Their prices have increased because of the economic boom in China; higher transport prices in China and between China and Europe; and the establishment of an alleged "cartel" of Chinese magnesia producers. In addition, China's government has introduced tax incentives to promote the export of finished products, rather than raw materials. Roger Chorus, Secretary-General of the EU refractory producers' trade group PRE, says the glass sector is less affected than steel which is the sector most hit. "All affected sectors can expect price rises," he says. (whole item)
