The association of German industry BDI has warned that:
“Global, European and national restrictions to commodities are threatening the growth of German industry, which is vital to overcoming the current crisis.”
“We are steering towards a raw materials gap,” said Ulrich Grillo, chairman of the BDI commodities group and chief executive of German zinc producer Grillo-Werke.
BDI complains that China alone has restricted trade with raw materials and semi-finished products with some 373 export duties.
This complaint comes when there’s news about a draft report by China’s Ministry of Industry and Information Technology. The report has called for a total ban on foreign shipments of some rare metals, while introducing export quotas for other rare elements far bellow global needs.