Magnesium Price

Magnesium Price

Approximately 1 million metric tons of magnesium alloys are consumed annually. Aluminum alloys account for 50 million metric tons of consumption. Magnesium is about one-third lighter than aluminum; however, its range of applications is much more limited. The more limited use of magnesium is due to its low corrosion resistance and high flammability.

Magnesium recycling requires a special process because it is flammable even at low temperatures, particularly in powder form and as thin sheets. As a result, a flame can ignite at a temperature of just 100 degrees Celsius. The magnesium stick is therefore also used for starting fires. In powder form, magnesium is used in fireworks and in so-called flares in maritime navigation as a distress signal. Today, efforts are being made to mitigate its rapid flammability by adding the right elements to the alloy. In addition, the alloy may contain elements that are more difficult to recycle, such as scandium, gadolinium, and strontium.

Magnesium metal shavings are produced during the processing of magnesium. If properly separated from other alloys, these shavings can be easily recycled.

Ultimately, smelters process the magnesium scrap into a magnesium ingot or magnesium bar. This pure magnesium ingot is suitable for manufacturing a product or for producing aluminum or magnesium alloys at an aluminum or magnesium smelter.

A magnesium alloy is designated by two letters, a rounded number, a letter, and another letter. For example, Magnesium AZ91A is an automotive alloy. The first two letters represent the elements that are most abundant after magnesium. Thus, AZ stands for aluminum and zinc, with aluminum making up 9% and zinc 1%. In this case, magnesium makes up 90%. The third letter indicates the standard, and the fourth letter indicates the heat treatment. AS41, therefore, consists of 4% aluminum and 1% silicon. Magnesium makes up approximately 95%, depending on the other elements.

How is the price of magnesium determined? The value of magnesium scrap is determined by supply and demand.

Examples of magnesium scrap

• Magnesium rims
• Magnesium engine blocks
• Transmission Cases
• Cast magnesium
• Magnesium dock boards
• Magnesium turnings
• Magnesium clips

Fun fact: The ISRI code for magnesium is WINE, WOOD, WORLD, and WAFER MAGNESIUM

Properties of magnesium

Magnesium is known as a very lightweight metal with a high strength-to-weight ratio. As a result, the material is often used in industries where weight reduction is a key consideration, such as the automotive and aerospace industries.

In addition, the metal can be easily alloyed with other elements such as aluminum and zinc. These alloys can improve the material's strength and versatility.

Due to its relatively low corrosion resistance and flammability at high temperatures, magnesium is typically used in specific applications where these properties can be effectively controlled.