![]() ![]() That’s the type of squeeze that gets put on consumers.”Ĭhina dominates the magnesium industry, producing over 80 percent of the world’s primary supply, according to a 2013 report by the U.S. “When they start having that kind of pricing power, what they tend to do is increase the price,” he said. ![]() The market of commodities is complex, but Gabriel Lazoda, an associate professor in economics at the University of Utah, agrees with Tripp. “And the price worldwide would probably go crazy.” “Well, that means you’d be almost completely dependent on China for magnesium,” he said. Tripp took a drink and slid can along the table. So what would it mean for magnesium - and the price of all the products it goes into - if the Great Salt Lake’s water levels keep dropping, and like other saline lakes in the world, ultimately disappears? It is the only producer of magnesium in North America, and with the exception of a small operation out of Brazil, it’s the only producer of magnesium metal in the Western Hemisphere. Magnesium plant where Tripp, the company’s technical services manager, sat drinking his soda is situated along the Great Salt Lake’s western shore. State reports note the company produces 14 percent of the world supply of magnesium. Magnesium, visible from one of its evaporation ponds on the Great Salt Lake. ![]()
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