Price for Magnesium; Articles Thereof, Including Waste and Scrap in India - 2024
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in India (CIF) - 2024
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in India (FOB) - 2022
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in India
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in India
Price for Magnesium; Articles Thereof, Including Waste and Scrap in India (CIF) - 2024
In March 2024, the average import price for magnesium; articles thereof, including waste and scrap amounted to $3,155 per ton, which is down by -3.8% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in September 2023 when the average import price increased by 4.4% month-to-month. Over the period under review, average import prices reached the peak figure at $3,495 per ton in April 2023; however, from May 2023 to March 2024, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In March 2024, the country with the highest price was Russia ($4,336 per ton), while the price for China totaled $3,069 per ton.
From April 2023 to March 2024, the most notable rate of growth in terms of prices was attained by Russia (-0.1%).
Price for Magnesium; Articles Thereof, Including Waste and Scrap in India (FOB) - 2022
The average export price for magnesium; articles thereof, including waste and scrap stood at $3,312 per ton in 2022, with an increase of 41% against the previous year. Over the period under review, the export price recorded a tangible increase. The pace of growth appeared the most rapid in 2013 an increase of 71% against the previous year. As a result, the export price reached the peak level of $4,351 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($6,397 per ton), while the average price for exports to Turkey ($2,004 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in India
In 2022, approx. 32K tons of magnesium; articles thereof, including waste and scrap were imported into India; growing by 13% compared with the year before. The total import volume increased at an average annual rate of +6.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, imports of magnesium; articles thereof, including waste and scrap surged to $182M in 2022. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 66.7 | 50.3 | 90.1 | 165 | 35.2% |
| Hong Kong SAR | 3.0 | 2.4 | 8.1 | 8.4 | 40.9% |
| Singapore | 0.1 | N/A | 0.3 | 5.8 | 287.1% |
| Others | 1.7 | 2.8 | 4.6 | 3.2 | 23.5% |
| Total | 71.5 | 55.5 | 103 | 182 | 36.5% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to India in 2022:
- China (29.1K tons)
- Hong Kong SAR (2.0K tons)
- Singapore (0.9K tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in India
Exports of magnesium; articles thereof, including waste and scrap from India soared to 6.5K tons in 2022, rising by 29% compared with 2021 figures. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 395% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of magnesium; articles thereof, including waste and scrap soared to $22M in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 556%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 3.4 | 1.0 | 4.0 | 14.7 | 62.9% |
| Brazil | 0.1 | N/A | 0.3 | 2.2 | 180.2% |
| Germany | N/A | 0.1 | 0.3 | 1.4 | 274.2% |
| United Arab Emirates | N/A | 0.1 | 1.3 | 0.6 | 144.9% |
| Turkey | N/A | 0.2 | 2.1 | 0.4 | 41.4% |
| Netherlands | 0.1 | 0.1 | 2.2 | 0.4 | 58.7% |
| South Korea | 0.2 | N/A | 0.2 | 0.1 | -20.6% |
| Slovenia | N/A | N/A | 0.3 | N/A | 0% |
| Others | 0.5 | 0.3 | 1.2 | 1.8 | 53.3% |
| Total | 4.4 | 1.8 | 11.9 | 21.6 | 70.0% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from India in 2022:
- United States (4626.0 tons)
- Brazil (783.4 tons)
- Germany (216.4 tons)
- United Arab Emirates (210.1 tons)
- Turkey (205.8 tons)
- Netherlands (160.9 tons)
- South Korea (39.0 tons)
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