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I've read of manufacturers using magnesium to save weight in certain components -
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When someone says magnesium referring to structural parts ("mag wheels" etc.) they always mean an
alloy. The particular alloy is probably stronger and lighter than a more common, lower magnesium, aluminum alloy. Magnesium content is usually between 90% and 98%, aluminum content 1% to 8% But some aluminum alloys are also called magnesium if they are high in magnesium - the alloy Magnalium is 5% magnesium
-mort