Skip to main content
Live · Updated just now·USD/t

Magnesium price today: live

Snapshot · Periodic reference

Magnesium ingot is priced via Fastmarkets and Asian Metal (China FOB 99.9%). China produces roughly 85% of global primary magnesium -- the highest supply concentration of any major industrial metal. Western primary magnesium supply is essentially zero (Latrobe Magnesium in Australia is the most advanced restart project). Power rationing in Shaanxi province (China's dominant magnesium producing region) caused major supply disruptions in 2021 and again in 2025.

Spot
—
—
52-week range
—
YTD
—
Year-to-date
30 days
—
1-month return
Updated
—
Snapshot data
Open
—
High
—
Low
—
Prev Close
—
1 Week
—
1 Month
—
YTD
—
Chart proxy: No public magnesium exchange. REMX ETF proxy.

Price history

Magnesium price chart

VanEck REMX (magnesium proxy)USD
Full chart on TradingView →
Note: No public magnesium exchange. REMX ETF proxy.
Loading chart...
Chart by TradingView

Magnesium mining stocks

Major producers

Source: Yahoo Finance + SEC EDGARFull screener →
#CompanyCommodity revenuePrice24h %YTD1YGeography
01
NHYDY
Norsk Hydro (NHYDY)
Primary magnesium smelter at Becancour (Quebec, Canada) -- one of the few active Western primary Mg smelters. Also produces Al-Mg alloys through its aluminum operations. Norwegian and Brazilian hydropower-based low-carbon production.
~5%
————Norway · Canada · Brazil
02
ICL
Latrobe Magnesium (LMG.AX)
Australian primary magnesium project using fly-ash feedstock from Latrobe Valley power station (Victoria). Demonstration plant stage. If commercial scale works, would be the only large Western primary Mg producer. Australian government backing.
~0%
————Australia (Victoria, pre-revenue)
03
AREC
USA Rare Earth (USAR)
Texas Mg processing facility advancing under DPA Title III backing. Also holds Round Top REE project. Magnesium is a secondary focus alongside rare earths.
~5%
————USA (Texas)
Reddit sentiment

Producer stock buzz

Powered by Adanos · Reddit
CriticalCurated top 5

Magnesium producer stocks

All commodity stocks
#CompanyTickerPrice24h %ExchangeNote
01
ICL Group
NYSE: ICL
ICL----NYSEDead Sea Mg + bromine
02
Chemours Company
NYSE: CC
CC----NYSETiO2/specialty chemicals Mg exposure

Ranked by commodity exposure (30%+ rule). Source: CommoditiesTracker hub database, June 2026.

Magnesium ETFs

Top funds by AUM

Source: Yahoo Finance + ETF issuer pagesAll magnesium ETFs →
TickerFundStructureExpense ratioAUMYTD1Y
REMX
VanEck Rare Earth/Strategic Metals
VanEck
Miners0.53%———
XME
SPDR S&P Metals & Mining ETF
State Street
Miners0.35%———

How magnesium prices move

What’s moving this market

Structural fundamentals · Reviewed annually
Supply

China 85%; Shaanxi province is the epicenter

China produces roughly 85% of global primary magnesium via the Pidgeon thermal reduction process using dolostite ore and ferrosilicon. Shanxi and Shaanxi provinces dominate. Russia (Solikamsk Magnesium Works, affected by sanctions and operational challenges), Israel (Dead Sea Magnesium), and Brazil (small) round out the global supply picture. Western primary magnesium is effectively zero after the US's last primary producer (US Magnesium, Utah) is the only remaining facility.

Fastmarkets · USGS · IMA
Demand

Auto lightweighting and aerospace are the growth drivers

Aluminum-magnesium alloys (for car body panels, seat frames, steering wheels, gearboxes), die-cast magnesium components (for automotive lightweighting), and desulfurization of steel are the primary demand uses. Magnesium is the lightest structural metal (65% lighter than aluminum per volume), making it attractive for EV lightweighting targets. Aerospace (helicopter gearboxes, aircraft seats) is a premium niche market.

International Magnesium Association (IMA)
Policy and macro

EU CBAM and US CHIPS-adjacent funding are driving Western reshoring

The EU Carbon Border Adjustment Mechanism (CBAM) applies to magnesium imports from 2026, penalizing coal-fired Chinese production vs. Western alternatives. The 2021 EU magnesium supply crisis (China power cuts reduced output 50%, driving prices from $2,000/t to $10,000/t) revealed European automotive supply chain vulnerability. The US DPA Title III program is backing Western magnesium production restoration.

EU Commission · DoD DPA

Key market data

Magnesium fundamentals

China Supply Share
~85%

China produces roughly 85% of global primary magnesium via the Pidgeon process in Shanxi and Shaanxi provinces. This is the highest supply concentration of any major industrial metal, exceeding even rare earths or CBMM's niobium share.

USGS · Asian Metal
Critical Mineral Status
US + EU Listed

On both US USGS Critical Minerals List and EU CRMA. The 2021 EU supply crisis (automotive production threatened) and extreme supply concentration are the primary criticality drivers.

USGS · EU CRMA
Demand Applications
Alloys + Die-casting

Al-Mg alloys (lightweight structural panels, aerospace) ~45%, die-cast Mg components (auto lightweighting, electronics) ~30%, steel desulfurization ~15%, other ~10%. Lightest structural metal: 35% lighter than aluminum, 65% lighter than steel (per equivalent volume).

International Magnesium Association (IMA)
Global Production
~1.3M t/yr

China ~85% (~1.1M t), Russia ~5% (Solikamsk, sanctions-affected), Israel ~3% (Dead Sea Magnesium), Brazil ~2%, other ~5%. Western primary production is minimal.

USGS
2021 Crisis Peak
$10,000/t (Oct 2021)

Magnesium hit $10,000/t in October 2021 (vs $2,000/t pre-crisis) after China's Shaanxi power rationing cut output by ~50% amid electricity shortages. The European automotive industry faced production shutdowns. This crisis was the primary driver of EU critical minerals policy focus on magnesium.

Fastmarkets historical
Price Volatility (90-day)
~35%

High volatility driven by Chinese power and energy cost dynamics. Shaanxi province power grid constraints create periodic supply shocks. Current level ~$2,200/t China FOB.

Calculated from Asian Metal assessments
2026 price forecasts

Magnesium price targets from 20 analysts

Aggregated 2026 price forecasts from major banks, research houses, and industry bodies. Range, median, and revision history — every forecast linked to its source.

Consensus range
View forecasts
See all forecasts

How to invest in magnesium

Ways to gain magnesium exposure

Full investing guide
ETFs

Magnesium ETFs

The most accessible vehicle for retail investors. Trade like stocks, low expense ratios.

Equities

Magnesium stocks

Mining and producer stocks offer 1.5-3x leverage to the underlying commodity but carry operational risk.

Futures

Magnesium futures

COMEX / LME / NYMEX futures provide direct price exposure with leverage. Requires a futures-enabled brokerage account.

Frequently asked questions

Common questions, answered

The magnesium price shown is the Fastmarkets or Asian Metal 99.9% ingot China FOB assessment, updated weekly. Current level is approximately $2,200/t, well below the October 2021 crisis peak of $10,000/t.