Chlorides; of Magnesium Price in Panama - 2023

Contents:

1. Chlorides; of Magnesium Price in Panama (CIF) - 2022
2. Chlorides; of Magnesium Price in Panama (FOB) - 2022
3. Chlorides; of Magnesium Imports in Panama
4. Chlorides; of Magnesium Exports in Panama

Chlorides; of Magnesium Price in Panama (CIF) - 2022

In 2022, the average chlorides; of magnesium import price amounted to $3,980 per ton, reducing by -6.3% against the previous year. Over the period under review, the import price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 41%. As a result, import price attained the peak level of $6,089 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($5,649 per ton), while the price for Germany ($3,805 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+35.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Chlorides; of Magnesium Price in Panama (FOB) - 2022

In 2022, the average chlorides; of magnesium export price amounted to $5,537 per ton, with an increase of 33% against the previous year. In general, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 209%. As a result, the export price attained the peak level of $7,358 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($22,600 per ton), while the average price for exports to Guatemala totaled $4,661 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+32.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chlorides; of Magnesium Imports in Panama

In 2022, chlorides; of magnesium imports into Panama skyrocketed to 21 tons, rising by 47% compared with the previous year's figure. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 108%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, chlorides; of magnesium imports soared to $83K in 2022. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 71% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Top Suppliers of Chlorides; of Magnesium to Panama in 2022:

1. Germany (17.3 tons)
2. Colombia (2.1 tons)
3. Spain (1.4 tons)

Chlorides; of Magnesium Exports in Panama

For the third consecutive year, Panama recorded decline in overseas shipments of chlorides; of magnesia, which decreased by -60.7% to 177 kg in 2022. In general, exports continue to indicate a sharp shrinkage. The smallest decline of -37.8% was in 2021.

In value terms, chlorides; of magnesium exports fell dramatically to $980 in 2022. Over the period under review, exports faced a sharp contraction. The smallest decline of -32.3% was in 2021.

Top Export Markets for Chlorides; of Magnesium from Panama in 2022:

1. Guatemala (171.0 kg)
2. Venezuela (5.0 kg)

Source: IndexBox Market Intelligence Platform