Magnesium decreased 22,750 CNY/T or 45.50% since the beginning of 2022, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Magnesium reached an all time high of 71250 in September of 2021. Trading Economics provides Magnesium pricing based on spot prices for magnesium ingot 99.9% min, traded in China. The biggest Magnesium producer is China, accounting for about 87% of the total production. Magnesium is a critical material for hardening aluminum alloys and is used in everything from power tools to laptops. Major consumers are China (39%), followed by Europe and North America (each around 19%) and Japan (4%). This page includes a chart with historical data for Magnesium.

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