Price for Magnesium; Articles Thereof, Including Waste and Scrap in China - 2024
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in China (FOB) - 2024
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in China (CIF) - 2022
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in China
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in China
Price for Magnesium; Articles Thereof, Including Waste and Scrap in China (FOB) - 2024
In May 2024, the average export price for magnesium; articles thereof, including waste and scrap amounted to $2,833 per ton, therefore, remained relatively stable against the previous month. Overall, the export price showed a mild descent. The most prominent rate of growth was recorded in September 2023 when the average export price increased by 6.4% month-to-month. Over the period under review, the average export prices hit record highs at $3,480 per ton in May 2023; however, from June 2023 to May 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($3,951 per ton), while the average price for exports to the United Arab Emirates ($2,560 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.3%), while the prices for the other major destinations experienced a decline.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in China (CIF) - 2022
The average import price for magnesium; articles thereof, including waste and scrap stood at $10,315 per ton in 2022, reducing by -39.2% against the previous year. Over the period under review, the import price, however, enjoyed a noticeable increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 172% against the previous year. The import price peaked at $31,990 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($45,768 per ton), while the price for Taiwan (Chinese) ($3,405 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 (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in China
In 2022, the amount of magnesium; articles thereof, including waste and scrap exported from China totaled 499K tons, surging by 6.4% compared with 2021 figures. The total export volume increased at an average annual rate of +3.4% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of magnesium; articles thereof, including waste and scrap skyrocketed to $2.7B in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 99%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 250 | 200 | 526 | 578 | 32.2% |
| Canada | 153 | 106 | 232 | 340 | 30.5% |
| India | 66.6 | 50.9 | 101 | 173 | 37.5% |
| Japan | 85.8 | 80.3 | 162 | 156 | 22.1% |
| Turkey | 38.5 | 36.2 | 57.5 | 150 | 57.4% |
| United States | 57.1 | 48.1 | 41.9 | 138 | 34.2% |
| South Korea | 55.5 | 53.7 | 90.5 | 133 | 33.8% |
| Taiwan (Chinese) | 40.1 | 41.3 | 63.4 | 83.7 | 27.8% |
| United Arab Emirates | 27.1 | 15.7 | 58.6 | 79.5 | 43.2% |
| Czech Republic | 0.1 | 1.7 | 5.6 | 70.5 | 790.0% |
| Mexico | 12.1 | 7.4 | 19.9 | 59.2 | 69.8% |
| Romania | 27.1 | 19.3 | 32.1 | 57.5 | 28.5% |
| Bahrain | 13.6 | 9.8 | 35.7 | 53.0 | 57.4% |
| Others | 322 | 291 | 487 | 662 | 27.2% |
| Total | 1,149 | 962 | 1,913 | 2,733 | 33.5% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from China in 2022:
- Netherlands (107.9K tons)
- Canada (62.9K tons)
- India (30.9K tons)
- Turkey (29.1K tons)
- Japan (26.2K tons)
- South Korea (24.0K tons)
- United States (22.7K tons)
- Taiwan (Chinese) (15.4K tons)
- United Arab Emirates (14.3K tons)
- Czech Republic (13.0K tons)
- Romania (10.5K tons)
- Mexico (9.8K tons)
- Bahrain (8.3K tons)
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in China
Imports of magnesium; articles thereof, including waste and scrap into China skyrocketed to 1.2K tons in 2022, jumping by 152% against the previous year. Overall, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of magnesium; articles thereof, including waste and scrap surged to $13M in 2022. In general, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | N/A | N/A | N/A | 5.2 | 0% |
| Japan | 1.3 | 3.2 | 4.2 | 3.6 | 40.4% |
| United States | 0.6 | 0.6 | 0.7 | 0.6 | 0.0% |
| Taiwan (Chinese) | 1.7 | 0.5 | 0.7 | 0.4 | -38.3% |
| South Korea | 0.9 | 0.3 | 0.4 | 0.4 | -23.7% |
| Germany | 0.5 | 0.5 | 0.2 | 0.3 | -15.7% |
| Mexico | 0.3 | 0.2 | N/A | N/A | -33.3% |
| Others | 0.6 | 1.6 | 2.0 | 2.2 | 54.2% |
| Total | 5.7 | 6.9 | 8.2 | 12.6 | 30.3% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to China in 2022:
- Russia (849.4 tons)
- Taiwan (Chinese) (112.8 tons)
- Japan (109.5 tons)
- United States (77.8 tons)
- South Korea (26.9 tons)
- Germany (5.6 tons)
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