MAGNESIUM-LITHIUM ALLOY, ROLLED MATERIAL AND SHAPED ARTICLE

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This Mg-Li alloy contains more than 10.50% by mass but 16.00% by mass or less of Li, from 2.00% by mass to 15.00% by mass (inclusive) of Al and 0.03% by mass or more but less than 1.10% by mass of Mn, with the balance made up of Mg and impurities; and the impurities contain Fe at a concentration of 15 ppm or less. If necessary, this Mg-Li alloy also contains at least one M element that is selected from the group consisting of more than 0% by mass but 3.00% by mass or less of Ca, more than 0% by mass but 3.00% by mass or less of Zn, more than 0% by mass but 1.00% by mass or less of Si, more than 0% by mass but 1.00% by mass or less of Y and more than 0% by mass but 5.00% by mass or less of a rare earth metal element having an atomic number of 57-71. This alloy is useful for shaped articles such as automobile components and cases for portable audio devices, digital cameras, mobile phones, notebook computers and the like.