Magnesium Ingot: Market Size & Forecast 2026

The global magnesium ingot market sits at approximately USD 5.1 billion in 2025 (base year), produced across roughly 1.1 million metric tons of primary magnesium output, with China controlling an estimated 80-85% of global primary supply through Pidgeon-process smelters powered by coal-fired electricity. The market is structurally oversupplied: Chinese producers have run at 55-70% utilization for four consecutive years, suppressing spot prices to levels that render Western electrolytic production only marginally economic. Against this backdrop, the single most consequential near-term event is the impending sunset of US anti-dumping duties on Chinese pure magnesium, currently scheduled for review in late 2026, which would re-rate US landed cost by an estimated 15-25% and fundamentally shift origin economics for North American buyers. > **Analyst Take.** The consensus view treats Chinese m

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