Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kenya - 2023
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (CIF) - 2022
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (FOB) - 2022
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (CIF) - 2022
In 2022, the average import price for magnesium; articles thereof, including waste and scrap amounted to $4,631 per ton, which is down by -21% against the previous year. Over the period under review, the import price, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 64%. The import price peaked at $5,858 per ton in 2021, and then dropped dramatically in the following year.
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 the UK ($9,299 per ton), while the price for India ($2,829 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (FOB) - 2022
In 2021, the average export price for magnesium; articles thereof, including waste and scrap amounted to $1,179 per ton, almost unchanged from the previous year. In general, the export price faced a drastic downturn. The most prominent rate of growth was recorded in 2019 when the average export price decreased by -86.4% against the previous year. Over the period under review, the average export prices hit record highs at $15,549 per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($2,382 per ton), while the average price for exports to Democratic Republic of the Congo totaled $360 per ton.
From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (-4.7%).
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya
In 2022, the amount of magnesium; articles thereof, including waste and scrap imported into Kenya shrank remarkably to 6.6 tons, waning by -63.7% against 2021. In general, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 2,467%. As a result, imports reached the peak of 18 tons, and then contracted rapidly in the following year.
In value terms, imports of magnesium; articles thereof, including waste and scrap shrank notably to $31K in 2022. Overall, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 3,061%. As a result, imports reached the peak of $107K, and then declined markedly in the following year.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.8 | 1.3 | 44.8 | 17.7 | 31.4% |
| India | 23.0 | 0.3 | 20.5 | 6.0 | -36.1% |
| Greece | 0.7 | N/A | 1.6 | 4.5 | 85.9% |
| United Kingdom | 0.5 | N/A | 0.3 | 0.8 | 17.0% |
| United Arab Emirates | 4.1 | 1.5 | 0.8 | 0.2 | -63.5% |
| Others | 0.6 | 0.2 | 38.7 | 1.5 | 35.7% |
| Total | 36.7 | 3.4 | 107 | 30.7 | -5.8% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to Kenya in 2022:
- China (3.8 tons)
- India (2.1 tons)
- Greece (0.5 tons)
- United Kingdom (0.1 tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya
In 2021, approx. 84 kg of magnesium; articles thereof, including waste and scrap were exported from Kenya; approximately equating the previous year. In general, exports posted prominent growth. The smallest decline of 99.9% was in 2020. Over the period under review, the exports of reached the maximum in 2021 and are expected to retain growth in years to come.
In value terms, exports of magnesium; articles thereof, including waste and scrap totaled $99 in 2021. Overall, exports showed a drastic downturn. The smallest decline of 99.9% was in 2020.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in Kenya (USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| Rwanda | 74.0 | N/A | 81.0 | 4.6% |
| Democratic Republic of the Congo | N/A | N/A | 18.0 | 0% |
| Nigeria | 51.0 | N/A | N/A | 0% |
| Somalia | 17.0 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 0% |
| Total | 142 | N/A | 99.0 | -16.5% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from Kenya in 2022:
- Democratic Republic of the Congo (50.0 kg)
- Rwanda (34.0 kg)
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