The main aim of this work is to study numerically the influence of an external magnetic field on the solidification processes of two-component materials. Based on the continuum model of two-phase flow a mathematical model for the directional solidification of a binary alloy in a magnetic field is presented. The model includes mass, momentum, energy and species mass conservation equations written in compressible form and additional relationships describing the temperature-solute coupling. The geometry under study is a cylindrical mold with adiabatic walls and cooled bottom. The macroscale transport in the solidification of alloys is governed by the progress of the two-phase mushy zone, which is treated by means of a porous medium approach. The volume fraction of liquid and solid phases, respectively, is calculated from a 2D approximation of the phase diagram. The results of calculation are compared with experimental data.