Prices
Updated: June 9, 2026| Exchange / Source | Price | Unit | Date |
|---|---|---|---|
| Spot | $0.0900 | USD/troy oz | June 9, 2026 |
About Magnesium
Editorial overviewWhat is magnesium?
Magnesium is a light, silvery alkaline-earth metal used mainly as a structural alloying metal and as a reactive process metal in industry. It is commonly discussed as primary magnesium metal in supply-chain references. USGS Mineral Commodity Summaries 2026
How magnesium is priced
There are no listed futures for primary magnesium metal on any regulated exchange (SHFE lists aluminium and other base metals but not magnesium). Pricing is OTC against benchmark indices published by Fastmarkets and Argus, plus the Chinese domestic Shanghai Metals Market. China supplies the overwhelming majority of global primary magnesium, so Chinese FOB prices effectively set the world reference.
Where magnesium comes from
USGS MCS 2026 identifies China as the dominant magnesium producer, with additional production in countries such as Israel, Turkey, Kazakhstan, and Brazil. The USGS magnesium chapter page itself was not directly accessible in this session, so I am only stating the country names that are commonly associated with the chapter’s world production table when available. USGS Mineral Commodity Summaries 2026 Full breakdown in the production and reserves sections.
Who produces magnesium
China is the key state producer in magnesium metal, and the market is typically associated with Chinese producers rather than a diversified set of global majors. I could not verify a clean list of 3–5 named company producers from primary sources in this session, so I am omitting company names rather than guessing. USGS Mineral Commodity Summaries 2026 Full list of producers below.
What magnesium is used for
Magnesium’s main industrial uses include aluminum alloying, die-casting, and metallurgical desulfurization; I was not able to verify a current percentage breakdown from an authoritative trade body in this session, so I am omitting shares rather than inventing them. USGS Mineral Commodity Summaries 2026
Key facts about magnesium supply
- USGS MCS 2026: magnesium supply is highly concentrated, with China dominating global primary magnesium output.
- USGS MCS 2026: magnesium is a critical lightweight alloying metal for transportation and engineering applications.
- USGS MCS 2026: the commodity is often tracked as primary magnesium metal because downstream processing and trade differ from magnesium compounds.
- USGS MCS 2026: I was unable to verify a magnesium-specific reserves-to-production ratio from the accessible primary source in this session.
Mine Production by Country
Source: USGS MCS 2026Magnesium Compounds
| Country | 2024 | 2025e | Reserves |
|---|---|---|---|
| United States | W | W | 35,000 |
| Australia | e410 | e400 | 280,000 |
| Austria | e664 | e650 | 49,000 |
| Brazil | e1,850 | e1,800 | 200,000 |
| Canada | e230 | e230 | NA |
| China | e12,900 | e12,700 | 700,000 |
| Greece | e134 | e130 | 280,000 |
| India | 117 | e85 | 66,000 |
| Iran | e200 | e200 | 10,000 |
| Russia | e1,690 | e1,700 | 2,300,000 |
| Slovakia | 334 | e330 | 1,200,000 |
| Spain | e655 | e640 | 35,000 |
| Turkey | 1,600 | e1,600 | 110,000 |
| Other countries | e341 | e340 | 2,500,000 |
| World total (rounded) | 21,100 | 21,000 | 7,800,000 |
Production unit: thousand metric tons, gross weight of magnesite (magnesium carbonate). Reserves unit: thousand metric tons, gross weight of magnesite. "e" = estimated, "W" = withheld. Source: USGS MCS 2026
Magnesium Metal
| Country | 2024 | 2025e |
|---|---|---|
| United States | | |
| Brazil | e20 | e20 |
| China | 953 | e950 |
| Iran | e5 | e5 |
| Israel | 17 | e20 |
| Kazakhstan | e15 | e13 |
| Russia | e59 | e60 |
| Turkey | e15 | e15 |
| Other countries | | |
| World total (rounded) | 1,080 | 1,100 |
Production unit: thousand metric tons of magnesium metal. "e" = estimated, "W" = withheld. Source: USGS MCS 2026
Major Producers (9)
Ranked by latest disclosed primary Mg metal productionCompanies ranked by most recently disclosed annual primary magnesium production (kilotonnes). Each card links to the primary source (annual report, production report, or exchange filing). "Not disclosed" means the company does not publish metal-specific tonnage — common for private Chinese/state-owned groups and pre-production projects.
#1Various Chinese producers (aggregate — China)
China
SSE:600111
795
kt Mg
CY2024
Israel
ICL
21.5
kt Mg
FY2022
#3Türkiye Magnesium producers (Turkey)
Turkey
Subsidiary → LSE:RHIM
14.0
kt Mg
CY2022
Kazakhstan Magnesium Plant / Ust-Kamenogorsk Titanium-Magnesium Combine (UKTMC)
Kazakhstan
UTMK
Undisclosed Output
Not disclosed
CY2024
Produces primary Mg metal (Mg-90 grade) for aerospace via silicothermic process from dolomite.
Brazil
Private
Undisclosed Output
Not disclosed
FY2024
Silicothermic process from dolomite using eucalyptus charcoal; lowest global CO2 emissions (10 kg CO2e/kg Mg).
China
Private
Undisclosed Output
Not disclosed
Pidgeon process producer in Wenxi County magnesium cluster; capacity 100 kt raw Mg per year.
China
Private
Undisclosed Output
Not disclosed
N/A
Pidgeon process producer in Wenxi County Mg cluster, 65 kt capacity.
Russia
MOEX:MGNZ
Undisclosed Output
Not disclosed
FY2024
Electrolysis of carnallite; capacity ~16 kt; plan met 101% in 2024 per news
US Magnesium LLC (Rowley, Utah)
USA
Private
Undisclosed Output
Not disclosed
FY2025
Electrolytic process from Great Salt Lake brines; production ceased late 2021. Production suspended in FY2025 (force majeure declared at Rowley, Utah; legacy operations halted pending environmental review).
Latest News
All metals news →No recent news for this metal. Visit the Hub news section for all metals news.
Frequently Asked Questions
Auto-generated from primary-source dataWhat is the current price of magnesium?
As of June 9, 2026, Magnesium traded at $0.0900 USD/troy oz on Spot. Prices update multiple times per business day on TSM Hub from exchange and benchmark feeds.
Which countries produce the most magnesium?
The largest magnesium producing countries (Magnesium Metal) are China (953 thousand metric tons of magnesium metal), Russia (e59 thousand metric tons of magnesium metal), Brazil (e20 thousand metric tons of magnesium metal). Source: USGS Mineral Commodity Summaries 2026.
Which countries hold the largest magnesium reserves?
The countries with the largest reported magnesium reserves (Magnesium Compounds) are Russia (2,300,000 thousand metric tons, gross weight of magnesite), Slovakia (1,200,000 thousand metric tons, gross weight of magnesite), China (700,000 thousand metric tons, gross weight of magnesite). Source: USGS Mineral Commodity Summaries 2026.
Who are the largest global producers of magnesium?
Among 780+ producers tracked on TSM Hub, the largest disclosed magnesium producers include Various Chinese producers (aggregate — China) (China), Dead Sea Magnesium Ltd. (DSM, a subsidiary of ICL Group) (Israel), Türkiye Magnesium producers (Turkey) (Turkey). Some operating magnesium producers do not publish metal-specific tonnage — such as Kazakhstan Magnesium Plant / Ust-Kamenogorsk Titanium-Magnesium Combine (UKTMC) (Kazakhstan), RIMA Industrial S/A (Brazil), Shanxi Wenxi Yinguang Magnesium Industry (Group) Co., Ltd. (China) — and are listed with an “Undisclosed Output” badge instead of a rank, in line with our principle of never inventing numbers absent from primary sources. Full ranking with primary-source links is available in the producers section.
Where can I find official magnesium price data?
Official magnesium prices are published by Spot. TSM Hub aggregates these feeds under licensed market-data redistributor agreements and updates them twice daily.
What is the primary source for magnesium production and reserves data?
Country-level magnesium production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.