Magnesium Ingots Price Trend and Forecast: Top 10 Leading Trading Countries and Regions - Latest Edition [2026]

The Expert Market Research pricing report on Magnesium Ingots provides insights into the top 10 leading trading countries and regions.

Magnesium ingot prices have observed a decline throughout 2024. The price of magnesium ingots is impacted by factors such as the raw materials market, energy costs, and government policies. With China responsible for 85% of global magnesium ingot production, fluctuations in the availability and cost of raw materials like ore also influence the market price. Additionally, magnesium ingot production is highly energy-intensive, meaning that electricity costs play a direct role in shaping manufacturers' production costs, which in turn affect the market price of magnesium ingots. In Q1 2025, Magnesium Alloy Ingot prices fell in all major regions due to too much supply and weak demand. Slower car sales and global economic worries have made it difficult. Overall, prices dropped around 8–10% compared to the previous quarter.

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China's experience continued declining of magnesium, a key raw material, dropping over 10% in the last quarter in 2024 when compared to the last quarter of 2023. Magnesium price continues downward, magnesium plant loss situation is common, production of magnesium plant production cuts news occasionally.

Magnesium Ingots Price Forecast

The graph illustrates the losses faced by magnesium production facilities, leading to a drop in magnesium prices. Geopolitical tensions and crises have significantly impacted the prices of raw materials, contributing to this downward trend. The graph also indicates that future prices are expected to rise as vehicle manufacturers adopt lighter construction methods. This shift towards lightweight design has spurred the development of magnesium ingots, as magnesium alloys are used in these lightweight assemblies due to their unique mechanical properties and excellent forming capabilities. Magnesium ingots are essential raw materials for alloy production, and the strong demand for these ingots will influence price trends.

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Global Trade and Supply Chain Implications

The increasing need for magnesium alloy ingots in major industries such as automotive, aerospace, electronics, and medical devices is transforming international trade and supply chains. With light, high-performance materials becoming increasingly important to achieve fuel efficiency and emission standards, nations are increasingly importing magnesium alloys to drive industrial development and regulatory requirements. This increasing need, particularly from emerging markets, will strengthen cross-border trade patterns. Large producers like China are at the centre of global supply, providing cost-advantaged exports that reach various regions.

The Red Sea crisis, which began in October 2023, affected the magnesium ingot trade over time. The crisis affected routes through the Suez Canal, a crucial passage that engages around 30% of global container trade. Delays in global supply were observed due to this disruption. Increasing prices of magnesium are affecting the prices of magnesium ingots.

Feedstock Analysis

The downward trend in magnesium ingot market quotations is mainly observed due to a decline in raw material prices, such as coal and semi-coke. These factors have resulted in the decline in transaction prices. Despite the decrease in the price of magnesium ingots, the reduced demand from downstream buyers has reduced the trading volume in the market, thus reducing the demand for magnesium in magnesium manufacturing.

Demand and Supply Outlook for Magnesium Ingots

Demand is on the rise, and the price of magnesium ingots is expected to increase rapidly. Stricter fuel efficiency and emission regulations are prompting the automotive industry to focus on lightweight materials like magnesium alloys. Additionally, the growing interest in electric vehicles, which utilise magnesium ingots for frames, battery enclosures, and interiors, will further boost the market demand for these ingots. Innovations in production technologies, such as casting and machining, are enhancing the quality of magnesium alloys, making them stronger and more affordable. The strong demand forecast for magnesium ingots is being driven by the increasing need for high-strength, low-weight materials, which is expected to push magnesium prices higher. Taking these factors into account, we anticipate a rise in magnesium ingot prices in the coming months, along with an improvement in the market for magnesium by-products. Econometric market analysis also suggests that continued volatility in upstream raw materials and policy variables will remain key influencers of magnesium ingots pricing through 2025.

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What Our Reports Include:

Historical Price Data and Analysis:

• In-depth review of prices (including feedstock) over the past 5 years.
• Visualisations and trend analysis to identify historical patterns and seasonality.

Supply and Demand Analysis:

• Detailed industry analysis of current supply and demand trends, along with projections for how these dynamics are expected to evolve during the forecast period.
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• Forecasted price trend analysis for magnesium ingots for the next 2 years using statistical modelling and fundamental & technical price analysis.
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