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This table presents yearend price ranges for magnesium from various market sources, including U.S. spot dealer imports and the European free market. These prices are expressed in dollars per pound or per metric ton, reflecting the cost of magnesium as a raw material critical to industries such as automotive manufacturing, aerospace, electronics, and construction. Tracking these prices is essential for understanding market trends, supply-demand dynamics, and the economic health of sectors reliant on magnesium, which is valued for its lightweight and strength properties.
Analysis of the data reveals a notable decline in U.S. spot dealer import prices, dropping from a range of $5.50–$6.50 per pound in 2022 to $3.75–$4.25 in 2023, indicating a significant reduction in cost that could influence downstream manufacturing expenses. The U.S. spot Western price category was discontinued in 2023, reflecting a market consolidation for high-purity magnesium assessments. Meanwhile, European free market prices also decreased, from $3,300–$3,400 per metric ton in 2022 to $3,000–$3,185 in 2023, suggesting a broader trend of softening magnesium prices internationally. These shifts may be attributed to changes in supply chain conditions, production levels, or global demand fluctuations during this period.
| TABLE 4 | |||||
| YEAREND MAGNESIUM PRICES | |||||
| 2022 | 2023 | ||||
| U.S. spot dealer import | dollars per pound | 5.50–6.50 | 3.75–4.25 | ||
| U.S. spot Western1 | do. | 5.50–6.50 | NA | ||
| European free market | dollars per metric ton | 3,300–3,400 | 3,000–3,185 | ||
do. Ditto. NA, not available.
1Discontinued due to consolidated assessments for minimum 99.8% pure magnesium.
Source: S&P Global Platts Metals Week.
Source: United States Geological Survey Mineral Resources Program
See also: Magnesium statistics | Mineral commodity prices