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@jacobmakesciencefun
Appears in Newsflare picks
03:38
Aussie science teacher explains why the price of magnesium has gone up 500 per cent in a month threatening millions of jobs
The price of magnesium metal has gone up 500 per cent from 2,000 US dollars per ton to 10,000 in a month.
Australian Science Teacher Jacob Strickling explains the importance of magnesium as a material and why the price has skyrocketed.
Thousands of UK businesses rely on magnesium and a shortage of supply threatens millions of jobs.
According to Strickling, 97 per cent of the UK supply comes from China.
China is responsible for 85 per cent of the world's supply and has recently stopped exporting magnesium and so world supplies are quickly running out, driving up the price.
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