German engineering sector calls on EU to secure access to magnets in China

FRANKFURT (Reuters) -Germany's VDMA machinery and equipment manufacturers' lobby said on Monday it welcomed a push by the European Union to reduce the region's dependence on imports of critical raw materials from China, urging for a particular focus on permanent magnets.

In a statement, the association said the entire sector of European small and medium-sized industrial companies was dependent on access to raw materials.

"Permanent magnets are a particular focus for the mechanical and plant engineering sector," it added.

(Reporting by Ludwig Burger, Editing by Friederike Heine)