The Mg addition is done to convert grey cast iron to ductile cast iron. How does Mg contribute to the conversion? How does the conversion happen (the mechanism)?
It seems to be closely linked to surface tension of the melt.
The explanation might be somehow the same for modification of the eutectic in aluminium-silicon alloys with Sr or Na.
The increase of surface tension is in general visible while you look at the shape of the free surface of your metal (top of the downsprue or feeders for example) . Also after adding mg the metal projected (sparks) forms perfect solid spheres.
The increase of undercooling (recalescen ce) is another clue that lead to surface tension.