Magnesium Price Trend

Magnesium Price Trend and Forecast

Track the latest insights on magnesium price trend and forecast with detailed analysis of regional fluctuations and market dynamics across Europe, North America, Middle East & Africa, Asia Pacific, and Latin America.

Magnesium Prices Q4 2024

During the last quarter of 2024, the magnesium prices in Canada reached 1190 USD/MT in December. The arrival of winter in Canada, particularly in the northern provinces, sparked an increase in demand for magnesium chloride, which is utilized as a de-icing agent for road and infrastructure maintenance. Besides, disruptions in freight transportation, particularly in North America, affected the market and contributed to price volatility. 

During the last quarter of 2024, the magnesium prices in China reached 2360 USD/MT in December. As per the magnesium price chart, disruptions to logistics, particularly from typhoons impacting ports, and a decrease in demand, especially from the construction and personal care sectors, contributed to price declines. However, some sectors like agrochemicals and automotive saw increased demand, which partially offset the overall downward trend. 

During the last quarter of 2024, the magnesium prices in Japan reached 2540 USD/MT in December. Downstream demand in key sectors like construction and pharmaceuticals was weak, contributing to the price declines. While the market showed some resilience, overall, the trends pointed towards a challenging period for magnesium prices in the APAC region, including Japan. 

During the last quarter of 2024, the magnesium prices in France reached 3010 USD/MT in December. Global economic uncertainties and weakened demand in some downstream industries put pressure on magnesium prices. Moreover, fluctuations in the availability and cost of key raw materials like magnesite and dolomite, sources of magnesium, also played a role. 

During the last quarter of 2024, the magnesium prices in Thailand reached 1810 USD/MT in December. Magnesium consumption in the region fell due to factors such as global economic uncertainty, supply chain interruptions, and lower industrial activity in important industries, such as construction and pharmaceuticals.

Magnesium Prices Q4 2023

The magnesium prices in Canada for Q4 2023 reached 1267 USD/MT in December. The market in region saw price fluctuations mirroring trends from Asia. Disparate movements in upstream costs and modest downstream demand led to a volatile market. The period was also marked by logistical challenges that hindered growth, yet the market in general remained relatively stable despite these fluctuations.

Regional Coverage

The report provides a detailed analysis of the magnesium market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the magnesium price trend.

Global Magnesium Price Trend

The report offers a holistic view of the global magnesium pricing trends in the form of magnesium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into magnesium historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into magnesium price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed magnesium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Magnesium Price Trend

Q4 2024:

As per the magnesium price index, the start of winter in Q4 2024 raised demand for magnesium chloride, a substance used as a de-icing agent. Besides, the rising cost of energy significantly impacted production costs for magnesium manufacturers, offsetting the seasonal demand boost. Magnesium usage and prices decreased as a result of sluggish demand in a number of industries, including food, cosmetics, and medicines. Apart from this, stockpiling and export activity, along with rising feedstock costs, also influenced prices. 

In the European region, the market faced more challenges in maintaining its pace. The demand remained weak across the board, particularly affecting industries like food, pharmaceuticals, and cosmetics, which contributed to a general downward trend in prices. The supply market conditions also did not provide much support, resulting in a sluggish price movement. Despite sporadic increases, the overall market scenario remained subdued, reflecting a weak market trend throughout the duration. The European market’s struggles were more pronounced compared to its Asian counterpart, highlighting regional differences in market resilience and demand.

This analysis can be extended to include detailed magnesium price information for a comprehensive list of countries.

North America Magnesium Price Trend

Q4 2024:

The automotive industry, which is a significant consumer of magnesium alloys, saw a drop in demand as a result of more general economic issues including rising interest rates. The construction industry, on the other hand, had greater resilience, suggesting a persistent need for goods associated with construction. Besides, freight transportation, particularly during the fourth quarter, faced mixed results, further complicating supply chains and contributing to price volatility. 

In North America, magnesium prices were significantly affected by the market trends of Asia. The region witnessed fluctuating prices during the period, driven by a mix of varying downstream and upstream market behaviors. Fourth-quarter freight disruptions notably impacted the market, slowing down the projected growth and causing further instability. While the market experienced some growth constraints due to these logistical issues, the overall trend was characterized by volatility. The American magnesium market, reflecting a mixture of external influences and internal market conditions, displayed an inconsistent pricing pattern through the end of the year.

Specific magnesium historical data within the United States and Canada can also be provided.

Middle East and Africa Magnesium Price Trend

The report explores the magnesium pricing trends and magnesium price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on magnesium prices for countries can also be provided.

Asia Pacific Magnesium Price Trend

Q4 2024:

Typhoons in the region caused delays and raised freight costs, especially for magnesium sulfate and powder, by interfering with shipping operations. The market was further constrained by a shortage of feed stearic acid, a crucial component in the manufacturing of magnesium powder. The Chinese yuan's decline in value relative to the US dollar raised import prices, which affected traders' availability and profit margins. Price increases were caused by the initial demand for magnesium chloride as a de-icing agent and in infrastructure projects in the construction industry, particularly in China and India.

Magnesium prices in Asia experienced fluctuations as the market witnessed a mismatch amongst the rising upstream prices, driven by higher crude oil and magnesium oxide prices, and the modest end user demand. The situation persisted into the final quarter, with little change in demand, leading to a stable price range despite inventory adjustments held occasionally. Market stability was somewhat disrupted by freight issues, yet these disruptions were not enough to significantly alter the overall market dynamics. Consequently, despite some ups and downs in consumption and supply, the Asian magnesium market maintained a relatively steady performance.

This magnesium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Magnesium Price Trend

Latin America's magnesium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in magnesium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the magnesium price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing magnesium pricing trends in this region.

This comprehensive review can be extended to include specific countries within the region.

Magnesium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Magnesium Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of magnesium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of magnesium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of magnesium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing magnesium price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Magnesium Industry Analysis

The global magnesium market size reached 965.38 Thousand Tons in 2024. By 2033, IMARC Group expects the market to reach 1,227.0 Thousand Tons, at a projected CAGR of 2.57% during 2025-2033.

• The automobile industry is increasingly using magnesium alloys to reduce vehicle weight and increase fuel efficiency. Magnesium's lightweight quality helps to reduce emissions and improve performance, harmonizing with the industry's drive toward environmentally friendly solutions and severe emission requirements. Furthermore, the Organisation Internationale des Constructeurs d'Automobiles (OICA) predicts that worldwide passenger vehicle manufacturing will top 50 million units in 2022, up 9% from the previous year. Beyond that, the commercial vehicle market is predicted to grow at a 3.6% annual rate, reaching USD 1114.2 billion in 2032. This trend is projected to drive up demand for magnesium and related products in the near future.
• Magnesium is commonly employed in the electronics sector to make lightweight and long-lasting components such as laptop cases, mobile phones, and cameras. Magnesium demand in this industry is predicted to rise as consumer electronics grow in popularity and manufacturers emphasize portability and durability. Additionally, the ongoing trend toward downsizing and advancements in electrical design support this demand.
• The construction industry makes use of magnesium compounds, such as magnesium oxide boards, because of their fire resistance, insulating capabilities, and environmental benefits. The global building construction industry is expected to grow by 5.13% between 2024 and 2032. Furthermore, the real estate business is expected to reach $562 billion by 2032, with an annual growth rate of 8.03%. With rapid urbanization and infrastructure development, particularly in emerging economies, there is an increasing demand for sustainable and efficient building materials.
• Magnesium plays a critical role in the healthcare and pharmaceutical industries. It is a vital nutrient used in dietary supplements and medications to treat various health conditions, including cardiovascular diseases, osteoporosis, and migraines. As awareness of magnesium's health benefits grows and the global population ages, the demand for magnesium in supplements and pharmaceuticals is increasing. Furthermore, the healthcare expenditure is rising globally, providing additional impetus to the demand for these supplements. For example, in 2022, general government health spending in the European Union (EU) was €1221 billion, or 7.7% of GDP. Additionally, US healthcare spending increased by 4.1% to $4.5 trillion, or $13493 per person.

Magnesium News

The report covers the latest developments, updates, and trends impacting the global magnesium industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in magnesium production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the magnesium price trend.

Latest developments in the magnesium industry:

• In June 2024: Latrobe Magnesium began a feasibility study for its stage 2 commercial plant, which will produce 10,000 tonnes of magnesium annually in Victoria’s Latrobe Valley. The company aims to secure all necessary regulatory approvals and complete the feasibility study by the end of 2024.
• In February 2024: Alliance Magnesium entered into a strategic partnership with Triple M Metal to expand the procurement for its metal scrap recycling foundries.

Product Description

Magnesium is a lightweight, silvery-white metallic element with the chemical symbol Mg and atomic number 12. It is the eighth most abundant element in the Earth's crust and is essential for various industrial, biological, and chemical applications. The chemical and physical properties of magnesium include atomic weight (24.305 u), melting point (650°C (1,202°F)), boiling point (1,090°C (1,994°F)), density (1.738 g/cm³), and electronegativity (1.31 (Pauling Scale)).

Its manufacturing process involves extraction, preparation, electrolysis, casting, and alloying. Magnesium is widely utilized in automotive parts, aerospace components, consumer electronics, medical devices, construction materials, fireworks and pyrotechnics, bicycle frames, agriculture, dietary supplements, and water treatment.

It is known for its lightweight nature, high strength-to-weight ratio, excellent machinability, good corrosion resistance, efficient heat dissipation, recyclability, and eco-friendly nature. Additionally, it provides several advantages, such as versatility, cost-effectiveness, and biocompatibility.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of magnesium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting magnesium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The magnesium price charts ensure our clients remain at the forefront of the industry.