Price for Cyanides and Cyanide Oxides; of Sodium in Ecuador - 2022

Price for Cyanides and Cyanide Oxides; of Sodium in Ecuador (CIF) - 2022

In 2022, the average import price for cyanides and cyanide oxides; of sodia amounted to $2,728 per ton, with an increase of 24% against the previous year. Over the period under review, the import price, however, continues to indicate a mild curtailment. Over the period under review, average import prices reached the peak figure at $3,665 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($3,218 per ton) and Australia ($2,869 per ton), while the price for China ($2,540 per ton) and South Korea ($2,616 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cyanides and Cyanide Oxides; of Sodium in Ecuador (FOB) - 2022

The average export price for cyanides and cyanide oxides; of sodia stood at $25,000 per ton in 2022, rising by 5,056% against the previous year. Overall, the export price showed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2017 to 2022, the rate of growth in terms of prices for the United States amounted to +597.4% per year.

Imports of Cyanides and Cyanide Oxides; of Sodium in Ecuador

For the fourth consecutive year, Ecuador recorded growth in overseas purchases of cyanides and cyanide oxides; of sodia, which increased by 0.2% to 4.6K tons in 2022. The total import volume increased at an average annual rate of +5.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 9.4% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, imports of cyanides and cyanide oxides; of sodia skyrocketed to $13M in 2022. The total import value increased at an average annual rate of +7.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Cyanides and Cyanide Oxides; of Sodium in Ecuador (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	1.5	1.0	3.3	5.0	49.4%
China	3.4	2.8	0.8	4.1	6.4%
United States	0.7	1.2	1.2	3.3	67.7%
Australia	N/A	N/A	N/A	0.3	0%
Russia	1.5	1.7	1.9	N/A	12.5%
Georgia	1.5	1.6	1.8	N/A	9.5%
Czech Republic	0.7	0.4	0.3	N/A	-34.5%
Others	1.0	0.8	0.8	N/A	-10.6%
Total	10.3	9.5	10.2	12.7	7.2%

Top Suppliers of Cyanides and Cyanide Oxides; of Sodium to Ecuador in 2022:

South Korea (1.9K tons)
China (1.6K tons)
United States (1.0K tons)
Australia (0.1K tons)

Exports of Cyanides and Cyanide Oxides; of Sodium in Ecuador

In 2022, after two years of growth, there was significant decline in shipments abroad of cyanides and cyanide oxides; of sodia, when their volume decreased by -96.1% to 960 kg. In general, exports recorded a sharp contraction. The pace of growth appeared the most rapid in 2021 with an increase of 1.4% against the previous year. As a result, the exports attained the peak of 25 tons, and then dropped notably in the following year.

In value terms, exports of cyanides and cyanide oxides; of sodia skyrocketed to $24K in 2022. Over the period under review, exports, however, saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.