I'm sure you are right. The world has just been given a lesson about who's the boss when China (90% of worlds magnesium refinery) cut production by 50% to meet so called carbon targets. The dominant Al alloys for drawn sheet, casting and welding contain Mg - no alternate without sacrificing properties. Price up 300% and stock runs out in a month. Of course China will 'do the right thing' and be good man.
Free world MUST attend to supply lines like this, even at at a cost to its industry.
Demonstration Plant in Landau (March 2022), page-82
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