Magnesium alloy

A magnesium alloy containing, in % by mass,

• 0.95 to 2.00% of Zn,
• 0.05% or more and less than 0.30% of Zr,
• 0.05 to 0.20% of Mn, and
• the balance consisting of Mg and unavoidable impurities, wherein
• a total content of the unavoidable impurities is 30 ppm or less,
• a content of each of Fe, Ni, Co, and Cu as unavoidable impurities is less than 10 ppm,
• the magnesium alloy consists of a matrix phase consisting of single-phase solid solution and Zr-bearing precipitates dispersed in the matrix phase, wherein
• the particle size of the precipitates is smaller than 100 nm,
• the matrix phase of the magnesium alloy has a particle size distribution with an average crystal particle size from 1.0 to 3.0 μm and a standard deviation of 0.7 or smaller, and
• the magnesium alloy has a fracture elongation of 38% or more and a tensile strength from 288 to 300 MPa in a value measured in accordance with JIS Z2241.