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Magnesium
   
 Magnesium 99.9%
Russia  $/LB 
 
Low
28 Dec 07
1.3608
High
28 Dec 07
1.4515
 Magnesium 99.9%
Russia  $/KG 
 
Low
28 Dec 07
3.000
High
28 Dec 07
3.200
 Magnesium 99.9%
Russia  $/MT 
 
Low
28 Dec 07
3000
High
28 Dec 07
3200
 Magnesium 99.9%
Russia  $/GT 
 
Low
28 Dec 07
3048.1
High
28 Dec 07
3251.4
 Magnesium 99.9%
Russia  $/NT 
 
Low
28 Dec 07
2721.6
High
28 Dec 07
2903.0
 Magnesium Metal 99.9%
FOB Rotterdam  $/LB 
 
Low
28 Dec 07
1.8144
High
28 Dec 07
1.9051
 Magnesium Metal 99.9%
FOB Rotterdam  $/KG 
 
Low
28 Dec 07
4.000
High
28 Dec 07
4.200
 Magnesium Metal 99.9%
FOB Rotterdam  $/MT 
 
Low
28 Dec 07
4000
High
28 Dec 07
4200
 Magnesium Metal 99.9%
FOB Rotterdam  $/GT 
 
Low
28 Dec 07
4064.2
High
28 Dec 07
4267.4
 Magnesium Metal 99.9%
FOB Rotterdam  $/NT 
 
Low
28 Dec 07
3628.7
High
28 Dec 07
3810.2
 
Magnesium Prices 6 Months Magnesium Prices 1 Year Magnesium Prices 3 Years
Magnesium Prices 6 Months Magnesium Prices 1 Year Magnesium Prices 3 Years
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 Magnesium Tables
Print Version   

LB MT KG
 Magnesium
Magnesium Metal 99.9%
FOB Warehouse RotterdamUSD/LB
Published Low High Avg. Change Last Revised
Current pricing available to subscribers
28 Dec 07 1.81 1.91 1.860 0 07 Dec 07
21 Dec 07 1.81 1.91 1.860 0 07 Dec 07
14 Dec 07 1.81 1.91 1.860 0 07 Dec 07
07 Dec 07 1.81 1.91 1.860 .150 07 Dec 07
30 Nov 07 1.70 1.72 1.710 .190 30 Nov 07
23 Nov 07 1.50 1.54 1.520 0 19 Oct 07
16 Nov 07 1.50 1.54 1.520 0 19 Oct 07
09 Nov 07 1.50 1.54 1.520 0 19 Oct 07
02 Nov 07 1.50 1.54 1.520 0 19 Oct 07
26 Oct 07 1.50 1.54 1.520 0 19 Oct 07
99.9% Mg min, China Origin
Source - Reuters
Magnesium Metal 99.9%
FOB Warehouse RotterdamUSD/MT
Published Low High Avg. Change Last Revised
Current pricing available to subscribers
28 Dec 07 4,000 4,200 4,100.0 0 07 Dec 07
21 Dec 07 4,000 4,200 4,100.0 0 07 Dec 07
14 Dec 07 4,000 4,200 4,100.0 0 07 Dec 07
07 Dec 07 4,000 4,200 4,100.0 325.0 07 Dec 07
30 Nov 07 3,750 3,800 3,775.0 425.0 30 Nov 07
23 Nov 07 3,300 3,400 3,350.0 0 19 Oct 07
16 Nov 07 3,300 3,400 3,350.0 0 19 Oct 07
09 Nov 07 3,300 3,400 3,350.0 0 19 Oct 07
02 Nov 07 3,300 3,400 3,350.0 0 19 Oct 07
26 Oct 07 3,300 3,400 3,350.0 0 19 Oct 07
99.9% Mg min, China Origin
Source - Reuters
Magnesium Metal 99.9%
FOB Warehouse RotterdamUSD/KG
Published Low High Avg. Change Last Revised
Current pricing available to subscribers
28 Dec 07 4.00 4.20 4.100 0 07 Dec 07
21 Dec 07 4.00 4.20 4.100 0 07 Dec 07
14 Dec 07 4.00 4.20 4.100 0 07 Dec 07
07 Dec 07 4.00 4.20 4.100 .325 07 Dec 07
30 Nov 07 3.75 3.80 3.775 .425 30 Nov 07
23 Nov 07 3.30 3.40 3.350 0 19 Oct 07
16 Nov 07 3.30 3.40 3.350 0 19 Oct 07
09 Nov 07 3.30 3.40 3.350 0 19 Oct 07
02 Nov 07 3.30 3.40 3.350 0 19 Oct 07
26 Oct 07 3.30 3.40 3.350 0 19 Oct 07
99.9% Mg min, China Origin
Source - Reuters

Magnesium Metal 99.9% FOB China/Russia Price Charts
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1 Year 2 Year
Magnesium Prices 1 Year Magnesium Prices 2 Year


U.S.Geological Survey (USGS): Magnesium


Statistics and Information: Magnesium is the eighth most abundant element and constitutes about 2% of the Earth's crust, and it is the third most plentiful element dissolved in seawater. Although magnesium is found in over 60 minerals, only dolomite, magnesite, brucite, carnallite, and olivine are of commercial importance. Magnesium and other magnesium compounds are also produced from seawater, well and lake brines and bitterns. Magnesium compounds, primarily magnesium oxide, are used mainly as refractory material in furnace linings for producing iron and steel, nonferrous metals, glass, and cement. Magnesium oxide and other compounds also are used in agricultural, chemical, and construction industries. Magnesium metal's principal use is as an alloying addition to aluminum, and these aluminum-magnesium alloys are used mainly for beverage cans. Magnesium alloys also are used as structural components of automobiles and machinery. Magnesium also is used to remove sulfur from iron and steel.

Magnesium
(Data in thousand metric tons of magnesium content unless otherwise noted)


U.S. Domestic Production and Use: Seawater and natural brines accounted for about 43% of U.S. magnesium compounds production in 2008. Magnesium oxide and other compounds were recovered from seawater by three companies in California, Delaware, and Florida; from well brines by two companies in Michigan; and from lake brines by two companies in Utah. Magnesite was mined by one company in Nevada, brucite was mined by one company in Texas, and olivine was mined by two companies in North Carolina and Washington. About 60% of the magnesium compounds consumed in the United States was used for refractories. The remaining 40% was used in agricultural, chemical, construction, environmental, and industrial applications.

U.S. Recycling: Some magnesia-based refractories are recycled, either for reuse as refractory material or for use as construction aggregate.

U.S. Import Sources (2004-07): China, 78%; Canada, 6%; Austria, 5%; Australia, 3%; and other, 8%.

U.S. Tariff: (2)

Item

Number

Normal trade relations 12/31/2008

Magnesium hydroxide

281610.0000

3.1% ad val.

Magnesium chloride

2827.31.0000

1.5% ad val.

Magnesium sulfate (synthetic)

2833.21.0000

3.7% ad val.

U.S. Depletion Allowance: Brucite, 10% (Domestic and foreign); dolomite, magnesite, and magnesium carbonate, 14% (Domestic and foreign); magnesium chloride (from brine wells), 5% (Domestic and foreign); and olivine, 22% (Domestic) and 14% (Foreign).

Events, Trends, and Issues: Production capacity at the caustic-calcined magnesia plant in Queensland, Australia, was set to increase by 100,000 tons per year from its current capacity of 80,000 tons per year in response to growth in the world steel, nickel, cobalt, copper, and agricultural markets. Installation of a third multiple-hearth furnace was scheduled to be completed by September 2009. The company also has the capacity to produce 110,000 tons per year of dead-burned magnesia and 30,000 tons per year of fused magnesia. In Canada, the magnesite producer announced that it would double the production capacity for caustic-calcined magnesia at its Exshaw, Alberta, plant to 50,000 tons per year by adding another furnace and was considering restarting production at its 14,000-ton-per-year fused magnesia plant.

After being purchased by a private equity firm in 2007, Brazil’s leading magnesite producer announced plans to triple its dead-burned magnesia production and double its refractories production. Based on first quarter 2008 production data, the company would increase dead-burned magnesia production to 360,000 tons per year, a small increase from the plant’s current production capacity of 320,000 tons per year. However, the company planned to increase its refractories production capacity to 580,000 tons per year by 2009 from its current level of 335,000 tons per year. Most of the company’s refractory products are used by Brazil’s steel industry. The company also acquired a German refractories company in September 2008; the combination of the two refractories groups would create the world’s third ranked refractories company in terms of revenue.

The leading magnesite producer in Turkey planned to start production of fused magnesia and increase production capacity for dead-burned magnesia and magnesia-base refractories by yearend. A smaller producer in Turkey planned to increase production capacity for dead-burned magnesia to 35,000 tons per year from the current level of 12,000 tons per year and begin producing fused magnesia by 2009. In February, Russia’s leading magnesite producer acquired one of two magnesite producers in Slovakia and, later in 2008, announced plans to acquire the other producer.

World Mine Production, Reserves, and Reserve Base:

Mine Production

Reserves

Reserve Base

2007

2008 (e)

United States

(W)

(W)

10,000

15,000

Australia

130

140

100,000

120,000

Austria

202

200

15,000

20,000

Brazil

93

100

45,000

65,000

China

1,960

2,000

380,000

860,000

Greece

144

150

30,000

30,000

India

103

105

14,000

55,000

Korea, North

346

350

450,000

750,000

Russia

346

350

650,000

730,000

Slovakia

173

170

45,000

320,000

Spain

144

150

10,000

30,000

Turkey

605

600

65,000

160,000

Other Countries

145

140

390,000

440,000

World total (rounded)

4,390(3)

4,460(3)

2,200,000

3,600,000

In addition to magnesite, there are vast reserves of well and lake brines and seawater from which magnesium compounds can be recovered.

World Resources: Resources from which magnesium compounds can be recovered range from large to virtually unlimited and are globally widespread. Identified world resources of magnesite total 12 billion tons, and of brucite, several million tons. Resources of dolomite, forsterite, magnesium-bearing evaporite minerals, and magnesia-bearing brines are estimated to constitute a resource in billions of tons. Magnesium hydroxide can be recovered from seawater.

Substitutes: Alumina, chromite, and silica substitute for magnesia in some refractory applications.

(e) Estimated.
(W) Withheld to avoid disclosing company proprietary data.
(1) See also Magnesium Metal.
(2) Tariffs are based on gross weight.
(3) Excludes the United States


U.S. Geological Survey, Mineral Commodity Summaries, January 2009


  
  

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