Magnesium (Mg) is an inorganic mineral that is present naturally in the ores of dolomite, magnesite, and other mineral rocks. It is a grayish-white metal element with a melting and boiling point measuring around 650° C and 1090° C, respectively. The metal is slightly brittle in nature and turns into a highly malleable material when alloyed with other metals, such as aluminum. It oxidizes when exposed to air and forms a thin rusty layer over it.
Magnesium is a highly reactive metal that reacts with water at both hot and cold temperatures. It also reacts with various acids, non-metals, and alkalies, which leads to the formation of different Magnesium compounds. The metal is highly flammable in nature when shaved into thin strips, and this property is used in manufacturing weapons used for firebombing. Extinguishing the combustion of Magnesium metal is difficult to control.
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The key importing countries of Magnesium are the United States, India, and the Netherlands. On the other hand, the key exporting countries for the same are India, Germany, and China.
Key Details About the Magnesium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Magnesium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Magnesium Price chart, including India Magnesium price, USA Magnesium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Magnesium Price Trend:
Magnesium is a common inorganic metal, which has its primary applications in the production of alloys that are made with aluminium and zinc. It is used in the process of manufacturing iron and steel to remove sulfur from the content. It is also used in producing titanium through the Kroll process.
Additionally, Magnesium alloy is used in the production of various products that are required to be light in weight, tough, and portable such as luggage bags, laptops, power tools, car seats, and much more. Magnesium is highly combustive in nature and is used to produce fireworks, flares, and sparkles, as it ignites easily in the presence of oxygen.
Key Players:
- NIPPON KINZOKU CO., LTD.
- Latrobe Magnesium
- Alliance Magnesium Inc.
- US Magnesium LLC
- Regal Magnesium Co. Ltd.
- Dead Sea Magnesium Ltd.
- RIMA Group
- Wenxi YinGuang Magnesium Industry (Group) Co., Ltd.
- Magontec Ltd
- MagOne Products
- WHY Resources
News & Recent Development
- Date: September 6, 2023- Western mining firm decides to bring its Magnesium mining plant back to North America. The new plant aims to process Magnesium mining in a more carbon-friendly way.
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