MAGNESIUM-LITHIUM ALLOY, ROLLED MATERIAL AND SHAPED ARTICLE

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An Mg-Li alloy contains more than 10.50% by mass and not more than 16.00% by mass of Li, not less than 2.00% by mass and not more than 15.00% by mass of Al, not less than 0.03% by mass and less than 1.10% by mass of Mn, impurities, and the balance of Mg. The impurities contain Fe at a concentration of 15 ppm or less. The alloy may optionally contain M, which represents at least one element selected from the group consisting of more than 0% by mass and not more than 3.00% by mass of Ca, more than 0% by mass and not more than 3.00% by mass of Zn, more than 0% by mass and not more than 1.00% by mass of Si, more than 0% by mass and not more than 1.00% by mass of Y, and more than 0% by mass and not more than 5.00% by mass of rare earth metal elements with atomic numbers of 57 to 71. The alloy is suitable for use in a formed article such as an automobile part or a casing part of a portable audio device, a digital camera, a mobile phone, a notebook computer, etc.