Industrial metals · MG

Magnesium price

Magnesium currently trades at US$17,300 per tonne (≈ €14,713 · £12,894) — close to the 12-month high. Over the past 12 months it has lost 4.42%, with the annual range running from US$16,400 to US$18,550. 24-hour movement is minimal (±0.00%).

US$17,300 / tonne
≈ €14,713 ≈ £12,894 Unchanged 24h 42% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Magnesium (MG) price today US$17,300 / tonne, ↑ +0.00% (24h)

Magnesium chart

Interactive chart and 30-day overview

7 days
▼ −0.57%
−US$100.00
30 days
▼ −3.62%
−US$650.00
1 year
▼ −4.42%
−US$800.00
52-week range
US$16,400 42% US$18,550
Magnesium (MG) 30-day price chart — USD, EUR, GBP

The Magnesium chart shows how the magnesium price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

How is magnesium priced?

Magnesium is priced per metric tonne (1 t = 1,000 kg) — the standard unit for industrial and bulk commodities on the London Metal Exchange (LME), CME and major European exchanges. Wholesale shipments move in containers or bulk vessels, typically in 25-tonne or 100-tonne lots.

At US$17,300 per tonne, one kilogram is worth US$17.30. End-user pricing for processed goods includes refining margins, transport and tariffs on top of the wholesale benchmark.

What drives the price of magnesium?

The main feature of the magnesium market is Chinese supply concentration. Global primary magnesium production is ~1.0 million tonnes a year, of which China accounts for about ~85% — ~850,000 tonnes. The remaining sizeable producers are few: Russia (~50 kt), Israel (Dead Sea Magnesium, ~25 kt) and the United States (US Magnesium LLC near the Great Salt Lake in Utah, ~22 kt). Chinese output is also concentrated. Fugu county in Shaanxi province — China’s “magnesium capital” — alone accounts for close to ~40% of global production. A single provincial power-control measure or environmental tightening in China can therefore reset prices worldwide.

The second pillar is Chinese energy constraint. Primary magnesium production is based almost entirely on the Pidgeon process: dolomite is calcined, and the resulting magnesium oxide is reduced with ferrosilicon into magnesium vapour, which then condenses. The process is highly energy-intensive — producing one tonne of magnesium requires roughly 35–40 MWh of energy, typically coal-fired power — making Pidgeon-process metal one of the most carbon-intensive metals in the world on a per-tonne basis. A previous autumn wave of Chinese power curbs, when a large share of capacity in Shaanxi and Shanxi had to be shut, lifted the FOB China price from ~3,100 USD to ~6,400 USD / tonne in three months. The temporary shock showed how exposed Western buyers are to this single bottleneck.

The third driver is the lightweighting trend on the demand side. Magnesium alloys (AZ91, AM60) are 33% lighter than aluminium and 75% lighter than steel, so the automotive industry — especially the EV segment — uses them increasingly in transmission housings, steering-wheel frames and instrument-panel supports. The other major end-market is aluminium alloying: 5xxx and 6xxx series structural aluminium alloys typically contain 0.5–5% magnesium, so aluminium production (~70 Mt a year) alone generates magnesium demand in the hundreds of thousands of tonnes. Movements in the US Defense Logistics Agency strategic magnesium stockpile also add a seasonal effect. Magnesium is among the metals considered strategically critical for defence procurement.

How to invest in magnesium

Magnesium is a difficult commodity for retail investors to access directly. Pure magnesium CFDs are not available from large European brokers such as XTB and eToro — there is no liquid exchange-traded contract on which a CFD could be based — and there is no pure magnesium ETF, because the market is too small and too concentrated for listed products. A European retail investor therefore gets exposure indirectly. One route is through diversified mining companies such as Glencore — GLEN.L and Rio Tinto. Another is through aluminium producers such as Alcoa — AA and Norsk Hydro, where magnesium and aluminium-alloy businesses form a meaningful part of the product base. A third route is through automotive lightweighting suppliers such as Magna International — MGA, whose activity is linked to magnesium demand trends.

30-day price history

Chart and daily closing prices

Magnesium (MG) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
22 May 2026 US$17,300 €14,713 £12,894 ▼ −0.57%
21 May 2026 US$17,400 €14,798 £12,968 ▼ −0.57%
18 May 2026 US$17,500 €14,883 £13,043 ▲ +0.57%
13 May 2026 US$17,400 €14,798 £12,968 ▼ −0.57%
12 May 2026 US$17,500 €14,883 £13,043 ▼ −0.57%
10 May 2026 US$17,600 €14,968 £13,117 ▼ −0.56%
30 Apr 2026 US$17,700 €15,053 £13,192 ▲ +0.57%
27 Apr 2026 US$17,600 €14,968 £13,117 ▼ −0.28%
25 Apr 2026 US$17,650 €15,011 £13,155 ▼ −1.67%
22 Apr 2026 US$17,950 €15,266 £13,378 ▼ −0.28%
21 Apr 2026 US$18,000 €15,308 £13,415 ▼ −0.28%
20 Apr 2026 US$18,050 €15,351 £13,453 —

Magnesium: frequently asked questions

How much does 1 kg of magnesium cost? +
Magnesium metal is quoted internationally in USD / tonne, on an FOB China basis, typically through the port of Tianjin. At a current price of about 3,000 USD / tonne, one kilogram of magnesium costs ~3 USD (3,000 / 1,000). Dealer prices are usually materially higher, depending on purity (99.9% or above), form (ingot, granules, powder, AZ91 or AM60 alloy) and logistics.
What is the price of 1 tonne of magnesium? +
The global reference level is about 3,000 USD / tonne, corresponding to the Fastmarkets MB Magnesium 99.9% min, FOB China main ports assessment. This is not an exchange-traded contract, but a weekly physical spot-market price index. Argus Metals and Asian Metal publish independent indices using similar methodologies. Western ex-works prices from producers such as US Magnesium and Dead Sea Magnesium are structurally higher, typically by 25–60%, reflecting regional differences in energy and environmental costs.
Why does China produce about ~85% of the world’s magnesium? +
Primary magnesium production is based on the Pidgeon process, which is highly energy-intensive — roughly 35–40 MWh / tonne — and its inputs, dolomite and ferrosilicon, are also energy-intensive products. Fugu county in China’s Shaanxi province combines cheap coal-fired power, local dolomite deposits and a value chain closely integrated with the ferrosilicon industry. Western producers such as US Magnesium and Dead Sea Magnesium typically use an electrolytic process from magnesium chloride brine — cleaner and more modern, but more capital-intensive and less scalable. The cost advantage of Chinese Pidgeon-process metal is structural.
What drives the price of magnesium? +
Three main factors: Chinese supply concentration (~85% of world production, including ~40% from Fugu county — so one provincial power-control measure can have a global effect), Chinese power curbs and environmental tightening because of the extreme energy intensity of the Pidgeon process — one previous shock lifted the price from ~3,100 USD to ~6,400 USD / tonne in three months — and the dynamics of automotive lightweighting demand and aluminium alloying, with 5xxx/6xxx series alloys containing 0.5–5% magnesium. Movements in the US Defense Logistics Agency strategic stockpile are a secondary influence.
How can I buy magnesium for investment purposes? +
There is effectively no direct route for most retail investors. Large European brokers such as XTB and eToro do not offer pure magnesium CFDs, because there is no liquid exchange-traded contract on which a CFD could be based, and there is no pure magnesium ETF. European retail investors therefore tend to use indirect exposure: diversified miners such as Glencore and Rio Tinto, aluminium producers such as Alcoa and Norsk Hydro, where the magnesium content of 5xxx/6xxx alloys creates indirect demand, or automotive lightweighting suppliers such as Magna International. Physical magnesium ingots are not common retail investments: the metal oxidises, storage is specialised and the retail resale market is limited.
Which countries produce the world’s magnesium? +
Global primary magnesium production is ~1.0 million tonnes a year. The largest producers are China (~850 kt, or ~85% of global output — including about ~40% from Fugu county in Shaanxi province), Russia (~50 kt, including Solikamsk Magnesium Works and Russian Titanium Magnesium Corporation), Israel (~25 kt, with Dead Sea Magnesium processing Dead Sea brines electrolytically) and the United States (~22 kt, through US Magnesium LLC near the Great Salt Lake in Utah). Western production combined remains below 15% of Chinese output, a structural dependency that has been stable for years.
Why is magnesium important for the automotive industry? +
Magnesium alloys are 33% lighter than aluminium and 75% lighter than steel, while their strength-to-weight ratio is competitive. The automotive industry — especially the electric vehicle segment — therefore uses alloys such as AZ91 and AM60 in transmission housings, steering-wheel frames, instrument-panel supports and seat frames. A modern passenger car typically contains 5–15 kg of magnesium alloy, and a premium EV can contain several times that amount. Magnesium is also a required alloying element in 5xxx and 6xxx series aluminium alloys, with 0.5–5% magnesium content, tying it to the production of aluminium body sheet and structural profiles.
How are gains on magnesium-related investments taxed? +
Tax treatment varies by jurisdiction; consult a local tax adviser.

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Data sources: USGS — Mineral Commodity Summaries: Magnesium Metal · International Magnesium Association (IMA) · Fastmarkets MB — Magnesium 99.9% min, FOB China main ports · Argus Metals — Magnesium prices