Magnesium Price Trend and Forecast

Magnesium Regional Price Overview

Get the latest insights on price movement and trend analysis of Magnesium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).


Magnesium Price Trend for the Second Half of 2023


Magnesium prices were observed to be oscillating throughout the said period of H2’23. Q3 began with a conflicting run between the upstream and downstream costs. With a rise in crude oil prices and feedstock magnesium oxide prices, the upstream costs were higher throughout the third quarter, whereas the downstream demands mostly remained humble with occasional ups.

Magnesium Price Chart

Magnesium Price Trends and Forecast

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A similar situation was seen in the year ending quarter as well since the situation didn’t change much from the consumption’s viewpoint. Inventories now were well capable of catering to the impending demands. Thus, the price trend vacillated within a very confined limit. Freight interruptions during this time hurdled the market a little; however, overall, a stable market performance was experienced in the Asian region.


The European magnesium market struggled a little more compared to the Asian market to sustain its momentum during the said period. The consumption patterns were tepid for the majority of the said span, while the upstream attributes were also not as supportive on the cost front. Primarily, a weaker performance from the food, pharma, and cosmetic industries drove the price trend downhill. Even though there were several upticks in the price graph, the overall curve was weak.

North America

The American magnesium industry was influenced by its Asian counterpart; prices were observed to be titillating throughout the entire period. Since both the upstream and downstream factors were behaving differently, the prices remained tugged between several driving factors. The freight disturbances of the fourth quarter affected the market severely by hurdling the anticipated growth during this time. However, an overall varying price trend was witnessed.

Analyst Insight

According to Procurement Resource, Magnesium prices are expected to continue behaving in a similar manner in the coming months as well. Given the current supply and demand dynamics, further fluctuations are projected in the price trend.

Magnesium Price Trend for the First Half of 2023


The prices of magnesium initially surged with the revival of market activities after a stretch of the Lunar New Year holidays and the removal of COVID restrictions. The rise in demand due to increased consumption rates and positive movement of market momentum helped the price incline. However, after this initial incline, the trend took a bearish turn as the import rates declined both in the domestic and international sectors. In the second quarter, however, the price showed positive momentum and inclined amid the receding level of inventories. However, from June, the supply-demand statistics disrupted the growth of magnesium prices.


The declining trend in the prices of magnesium was caused by a fall in the market dynamics of upstream and downstream industries in the first quarter of 2023. During the initial months of this quarter, the stability in the demand and availability of stocks balanced the prices, but soon, the supply levels surpassed the rates of procurement, causing a downfall in the price trend of magnesium.

The first half of the second quarter was in favor of market activities of magnesium as the trend surged with uprising domestic inquiries and improvement in trading activities. The second half of this quarter, however, failed to follow the same trend due to the plunging economy and gradually declining demand for magnesium.

North America

The positively moving demand segment of magnesium in the first quarter supported the rise in the price trend of magnesium initially, but soon, the consumption rates started to decline, and the overall market sentiments became weak, hampering the growth of magnesium prices.

The second quarter also showed an incline in the trend initially with the upswing in the upstream industries, but from May and June, the weak consumption of magnesium observed in the pharmaceutical, cosmetic, and rubber industries pushed the prices of magnesium in the negative direction.

Analyst Insight

According to Procurement Resource, the price trend of Magnesium is expected to follow a downward trajectory as the interest of end-user industries is dependent upon the feebly moving global economy.

Procurement Resource provides latest prices of Magnesium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About Magnesium

Formaldehyde (37%), or formalin, is a water-based saturated solution of 37% Magnesium is a silvery white solid that is not found in its free form in nature but rather found as carbonates, silicates, hydroxides, chlorides, or an amalgam. Pure metal burns with a white light in the air and is highly reactive. Magnesium is the lightest structural metal and is a good conductor of heat and electricity.

Magnesium Product Details

Report Features Details
Product Name Magnesium
Industrial Uses Medicines, cosmetics, explosives, pyrotechnic devices, aerospace, in alloys.
Chemical Formula Mg
HS Number 21061000
CAS Number 7439-95-4
Molecular Weight 24.305 g/mol
Supplier Database NIPPON KINZOKU CO., LTD., Latrobe Magnesium, Alliance Magnesium Inc., US Magnesium LLC, Regal Magnesium Co. Ltd., Dead Sea Magnesium Ltd., RIMA Group, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., Magontec Ltd, MagOne Products, WHY Resources.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Magnesium Production Processes

Magnesium is extracted from dolomite and magnesite ores. The ores are crushed, roasted followed by the addition of ground ores into the seawater in tanks leading to the settling of magnesium hydroxide, which is heated and mixed with coke and reacted with chlorine to form molten magnesium chloride, which is electrolyzed to obtain pure magnesium.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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