Magnesium Price Today - View Live Price South Africa ☑️ (2026)

Magnesium is the eight most abundant element on earth, constituting approximately 2 percent of the crust of the earth.

Quick Overview of Magnesium

✔️A brief overview of magnesium (Mg) ✔️History of magnesium ✔️Production of magnesium How to trade magnesium Factors that affect the price of magnesium What is magnesium used for? Conclusion

A brief overview of magnesium (Mg)

Magnesium is the third most profuse element present in seawater which contains trillions of tonnes of magnesium. According to PubChem, every cubic kilometre of seawater contains approximately 1.13 billion kilograms of magnesium. Magnesium does not occur uncombined in the earth’s crust. It is found in more than sixty minerals, of which magnesite and dolomite are the primary sources of the element. In the periodic table of elements, Magnesium is included in group 2, together with five other chemical elements, namely beryllium (Be), calcium (Ca), strontium (Sr), barium (Ba), and radium (Ra). Group 2 of the periodic table is also referred to as the family of alkine earth metals, which are the second most reactive metals in the periodic table. These metals have very similar properties, such as a silvery-white colour, low densities, low melting points, and low boiling points. They are called alkaline due to their ability to form solutions with a pH greater than 7, making them ‘alkaline.’ Magnesium is identified by the atomic symbol Mg in the periodic table, and the atomic number 12, representing the number of protons in the nucleus of each atom of the chemical element magnesium. (The atomic number is denoted by the letter Z, which is an abbreviation of the German word ‘Zahl,’ meaning number.) Additional facts about magnesium:

The metal boils at 1 090 degrees Celsius (1 994 degrees Fahrenheit).
It has a melting point of 650 degrees Celsius (1 202 degrees Fahrenheit).
Magnesium ignites easily in the atmosphere and burns with a bright white flame.
It is solid at room temperature.
Magnesium is the lightest structural metal, making it the lightest metal that can be used to build objects and structures. It is 75 percent lighter than steel and 33 percent lighter than aluminium, also spelled aluminum.
Magnesium has a sour taste, causing the somewhat sour flavour in mineral water.
It is not possible to extinguish a magnesium fire with water. It only causes a magnesium metal fire to flare up.

History of magnesium

Over a period of 76 years (1755 - 1831), the following scientists have contributed to the identification and discovery of magnesium:

In 1755, Joseph Black (1728 - 1799), a Scottish chemist, refuted the theory of many chemists, believing that magnesia (magnesium oxide) and lime (calcium oxide) were the same substance because both were produced by heating similar kinds of limestone and magnesite.

Black demonstrated that lime and magnesia had different chemical properties, proving that magnesium is a separate element.

Anton Rupprecht (1748 - 1818), an Austrian chemist and mineralogist, produced metallic magnesium in an impure form in 1792, by heating magnesia with charcoal.

Rupprecht named his discovery austrium after his homeland Austria.

In 1808, Sir Humphrey Davy (1778 - 1829), a chemist from England, isolated a small sample of pure magnesium by separating it from a mixture of magnesia and mercury by applying electrolysis.

Davy proposed the name magnium for the metal, which referred to the district of Magnesia in the north-eastern region of Greece, known as Thessalia or Thessaly.

The French physician and professor of chemistry, Antoine-Alexandre-Brutus Bussy (1794 - 1882), succeeded in 1831 to isolate the element in pure form by reacting potassium with magnesium chloride.

Noteworthy, neither of the names given by Rupprecht (austrium) and Davy (magnium) survived and eventually the element was called magnesium.

Production of magnesium

As mentioned, magnesium is always found in combination with other minerals, such as dolomite and magnesite, to name only two. Producing magnesium starts with the mining of ore deposits of magnesite or dolomite, followed by the crushing, screening, and washing of the minerals. Over the years, several methods have been developed to extract magnesium from other elements. The production method depends on, amongst other factors, the type of mineral from which the magnesium is to be extracted, the location of the mining process, and the costs involved in the production process. Examples of processes to produce magnesium:

The electrolytic process is a process in which electrochemical processes are used to extract magnesium from dolomite or magnesite ore.

Several measures, such as crushing, roasting, mixing with seawater, heating, mixing in coke, and reacting with chlorine are applied to produce molten magnesium chloride, which is electrolyzed to release magnesium, which moves to the surface.

Extraction from seawater and salt brines is done through evaporation and crystallisation, to name a few methods.

The Pidgeon process

The Pidgeon process is described by Springer Link as ‘a process in which raw material (dolomite) is fed into a reduction tank that is externally heated by a reduction furnace, and then calcined dolomite is thermally reduced to metallic magnesium using 75% ferrosilicon as a reducing agent in vacuum.’ The process was developed by Dr. Lloyd Pidgeon. Although one of the least efficient methods to produce magnesium, it is a method extensively used by China. The main reason for China to continue with the Pidgeon process is that the country has moved most of its magnesium production to north-central China, a region with an abundance of coal resources. The Pidgeon process is labour-intensive and extremely energy-intensive. For instance, it takes 35 to 40 megawatt-hours of power to produce one tonne of magnesium. In addition, in the region in north-central China, energy and labour costs are considerably lower than in other magnesium producing regions. Due to the strategy referred to above, China has managed to increase its production of magnesium from 7 388 tonnes in 1992 to about 800 000 tonnes in 2010, according to Magnesium.com. According to Investing News, China is regarded as the top country for magnesite mining by far. The country accounts for about 66% of the global output. In 2026, China’s magnesite production was 18 million metric tonnes (MT). China is followed by Russia (1.5 million MT) and Brazil (1.5 million MT). The seven remaining countries in the top ten list, Turkey, Austria, Spain, Greece, Slovakia, Australia, and India produced a combined 3.88 million tonnes. The US Geological Survey reported that the global magnesite production reached 26 million MT in 2026, with magnesite reserves amounting to 7.6 billion MT. Concerning the global production of high-purity magnesium, Investing News reported on October 26, 2026, that about 87% of the global production comes from China. Other large producers of high-purity magnesium include Israel, the USA, Brazil, Kazakhstan, Turkey, and Russia, which has the highest magnesium compound reserves - 2.3 million MT - in the world. (High-purity magnesium refers to magnesium oxide that is no less than 99.99 percent pure, containing hardly any impurities.) Major consumers of magnesium are China, Germany, France, the United Kingdom, Japan, and the USA, to name a few.

How to trade magnesium

According to the Observatory of Economic Complexity (OEC), a total of $1.6 billion of magnesium was traded in 2026, making it the world’s 765th most traded product. Trade in magnesium represents 0.0095 percent of total world trade. Exports of magnesium decreased by 16.3% between 2019 and 2026, with the Covid-19 pandemic probably the main reason. Sales and purchases of magnesium between countries take place on global commodity markets, with price determined by supply and demand. As with several other metals, there is no formal magnesium market or exchange. Hence, it is difficult for the individual to trade the metal directly. However, there are ways available to trade commodities. For instance, to use trading instruments such as CFDs (contracts for difference), ETFs (exchange traded funds), and futures contracts, which is a more advanced investment strategy. Trading with these types of instruments requires a trader/investor to use a trading platform provided by a professional and regulated commodity broker like AvaTrade. Another possibility is to invest in magnesium resource companies such as:

The Australian based companies, Latrobe Magnesium Limited (LMG), Magontec Limited (MGL), and Korab Resources Limited (KOR), all three listed on the Australian Securities Exchange (ASX).
Western Magnesium Corporation, domiciled in the USA and traded on the TSX Venture Exchange (TSX).
Karnalyte Resources Inc., a Canadian company listed on the Toronto Stock Exchange (TSX).

According to Investing News, all the companies mentioned above had market capitalisations above $5 million, as of 19 October 2026.

🏆10 Best Forex Brokers in South Africa

Rank	Broker Review	Regulators	Minimum Deposit	Visit Broker
🥇	Read Review	ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA	$100	Visit Now
🥈	Read Review	FSCA, FCA, DFSA, FSA, CMA	$0	Visit Now
🥉	Read Review	CySEC, IFSC, DFSA, FCA	$5	Visit Now
4	Read Review	ASIC, CySEC, FSA, SCB	$0	Visit Now
5	Read Review	FSA, FSCA	$250	Visit Now
6	Read Review	FSA, FSC, FSCA, ASIC, CMA	$20	Visit Now
7	Read Review	FSC, FSCA	$50	Visit Now
8	Read Review	ASIC, CySEC, FSCA, FSA, FSC, CMA	$100	Visit Now
9	Read Review	CySEC, MWALI, FSCA	$25	Visit Now
10	Read Review	FSA, CySEC, FSCA, FSC	$10	Visit Now

Factors that affect the price of magnesium

According to figures, indicating the price of magnesium in CNY (Chinese Yuan Renminbi) per tonne, supplied by Trading Economics, magnesium traded 41 500 CNY per tonne, as of 5 April 2026. Trading Economics reported that the metal ‘decreased 8 500 CNY/T or 17.00% since the beginning of 2026, according to trading on a contract for difference (CFD) that tracks the benchmark for this commodity.’ Prices of commodities are primarily determined by the law of supply and demand. The price of magnesium in China plays a major role in the supply chain. Approximately 87 percent of the global production of magnesium is supplied by China, of which Europe imports 45 percent. Concerning the supply of the metal, China’s endeavours to change their policies and regulations on environmental energy have started to significantly affect the country’s supply of the metal. For instance, Mining Technology reported in October 2026 that ‘the Development and Reform Commission of Yulin City published a new document on achieving energy intensity and consumption reduction targets by 2026.’ (Accentuations by the article writer.) The Yulin City commission required that major energy-intensive industries or enterprises should reduce or stop their production from September to December 2026. Sidebar: Yulin City is located in the Shaanxi province in China where most of China’s production takes place. The production curbs in China have triggered a severe and acute shortage of the metal, causing prices to rise. The magnesium price climbed above $9 000 during the late 2026s. The shortage in the supply from China has also created global market distortions and considerable disruptions in the supply chain, which could cause huge production losses in the automotive industry in Europe. Another factor affecting the supply and price of magnesium is the price of coal in China. The production of magnesium, specifically the Pidgeon process, in China relies heavily on energy generated from the burning of coal. China’s attempts to reduce emissions also affected the production of coal, which could cause coal prices to increase and eventually the production costs of magnesium as well. A decline in coal production could affect magnesium production negatively, causing a production shortage and consequently increasing prices of magnesium. One the positive side, higher magnesium prices make the recovering of magnesium from scrap more cost effective. Industry ARC expects the compound annual growth rate in the global magnesium market to average between 7.5 percent between 2026 and 2026, reaching $5.4 billion. Regarding the demand for magnesium, China is also a major factor, if not the main factor. Demand for magnesium has grown consistently in recent years, driven largely by the automotive industry in which magnesium is used for die casting. Magnesium, which is a strong, but light metal, is seen as a means to reduce the weight of vehicles, which will effectively reduce emissions from vehicles. China is the world’s largest manufacturer of vehicles, with the Chinese government predicting that the country will manufacture 35 million units by 2026. Regulations imposed by countries to reduce emissions, such as carbon dioxide and other greenhouse gasses, from vehicles, will increase the demand for metals such as aluminium, rhodium, and magnesium.

What is magnesium used for?

Biological

Magnesium is an essential element for plants and humans. In plants, magnesium is an essential component in the process of photosynthesis, which is the primary source of oxygen in the atmosphere. Photosynthesis makes the carbon cycle possible which is essential for the existence of life on earth. In humans, magnesium plays a significant role. For example:

Magnesium is the eleventh most abundant element in the human body, which is about 20 grams, of which 60 percent occurs in our bones.
The average daily intake necessary for the human body is 250 - 350 milligrams, depending on a person’s weight and size.
Magnesium is necessary for more than 300 biochemical reactions in humans, inter alia, for the functioning of hundreds of enzymes.
The element is deemed vital for a strong skeleton and good blood circulation.
Magnesium helps to regulate the body’s temperature.

Magnesium and its supplements are commonly used as an antacid for heartburn, for constipation, for low magnesium levels, for pregnancy complications such as pre-eclampsia and eclampsia, to name a few conditions. Warning: Consult a doctor or pharmacist before you start the use magnesium and its supplements. Magnesium is available in food like wheat brans, oats, almonds, peanuts, walnuts, potatoes and leafy vegetables, sea salt, boiled spinach, coconut, and fruit such as avocados, papayas, grapefruit, guavas, bananas, and raspberries, to name a few food sources of magnesium. Industrial Magnesium metal plays an important role in numerous industrial applications. For example:

The metal’s strength-to-weight ratio makes it and ideal metal to be mixed with other metals such as aluminium, to create magnesium alloys. Magnesium is more than a third lighter than aluminium, but as strong as steel.

Magnesium alloy can be found in structures of airplanes, in missiles, in auto parts, and in electronic devices. Cameras and horseshoes are also made from magnesium alloys.

Magnesium hydroxide is added to some plastics to make them fire retardant.
Due to its capability to ignite easily and burn with a brilliant white light, magnesium is used in fireworks, flares, and pyrotechnics.
Magnesium carbonate is used in the manufacturing of some paints and inks and is added to table salt, preventing caking.
Magnesium oxide is used in some antacids and in some types of cement and to make heat-resistant bricks for furnaces and fireplaces.
Magnesium is used as a reducing agent in the production of pure uranium.
It is added to molten steel and iron to remove sulfur.

In conclusion

Magnesium is a key element and metal that is essential to allow us to live a healthy life in an environment in which air pollution is reduced to acceptable levels. The applications of magnesium enable us to live more comfortable, safer, and easier. Note: The intention of the article is to inform and not to provide investment or trading advice. Please obtain the advice of a professional and regulated commodity broker before making trading and investment decisions.