The gap between supply and demand of raw magnesium is expected to appear in 2020. It is estimated that the increase of global demand for raw magnesium in the future will mainly come from the rising consumption of magnesium alloy, and the demand for magnesium alloy will mainly be driven by the automobile industry. The demand for magnesium alloy materials in the automobile industry is expected to rise sharply, while the supply side is restricted by the stricter environmental protection policies, so it is difficult to increase the production of raw magnesium in the next five years. We expect that there will be a gap between supply and demand in 2020, and then the gap will continue to expand. The supply and demand fundamentals are expected to support the continuous rise of magnesium prices.