Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait - 2022
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (CIF) - 2022
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (FOB) - 2022
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (CIF) - 2022
In 2022, the average import price for magnesium; articles thereof, including waste and scrap amounted to $3,979 per ton, increasing by 38% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for magnesium; articles thereof, including waste and scrap decreased by -36.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 58% against the previous year. Over the period under review, average import prices reached the maximum at $6,309 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($16,863 per ton), while the price for Japan ($140 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (FOB) - 2022
The average export price for magnesium; articles thereof, including waste and scrap stood at $730 per ton in 2022, falling by -34.4% against the previous year. Over the period under review, the export price saw a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 27% against the previous year. The export price peaked at $1,776 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($1,809 per ton), while the average price for exports to the United Arab Emirates ($85 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 Bahrain (-4.0%), while the prices for the other major destinations experienced a decline.
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait
In 2022, imports of magnesium; articles thereof, including waste and scrap into Kuwait reduced dramatically to 66 tons, waning by -47% on the previous year's figure. Overall, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 757% against the previous year. As a result, imports reached the peak of 124 tons, and then dropped markedly in the following year.
In value terms, imports of magnesium; articles thereof, including waste and scrap declined markedly to $261K in 2022. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 459% against the previous year. As a result, imports reached the peak of $355K, and then declined sharply in the following year.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.7 | 12.3 | 84.6 | 92.4 | 224.7% |
| Canada | 1.6 | 10.8 | 10.3 | 52.7 | 220.6% |
| China | 12.1 | 9.8 | 58.8 | 49.5 | 59.9% |
| United Arab Emirates | 5.8 | 4.9 | 88.8 | 36.9 | 85.3% |
| Turkey | 1.3 | 0.5 | 17.2 | 4.1 | 46.6% |
| Oman | 1.0 | 1.2 | 11.2 | 2.6 | 37.5% |
| Singapore | 1.3 | 1.7 | 6.3 | 2.1 | 17.3% |
| Mexico | 0.5 | 1.0 | 3.5 | 0.7 | 11.9% |
| Japan | 0.4 | 0.8 | 2.4 | 0.3 | -9.1% |
| Others | 38.3 | 20.5 | 72.4 | 19.5 | -20.1% |
| Total | 64.8 | 63.5 | 355 | 261 | 59.1% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to Kuwait in 2022:
- China (24.7 tons)
- United Arab Emirates (13.8 tons)
- Canada (10.1 tons)
- United States (5.5 tons)
- Oman (2.4 tons)
- Japan (2.3 tons)
- Singapore (1.7 tons)
- Mexico (1.2 tons)
- Turkey (1.1 tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait
In 2022, the amount of magnesium; articles thereof, including waste and scrap exported from Kuwait soared to 72 tons, growing by 315% on 2021. In general, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of magnesium; articles thereof, including waste and scrap skyrocketed to $52K in 2022. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bahrain | 9.9 | 7.9 | 14.2 | 27.6 | 40.7% |
| Pakistan | N/A | N/A | 2.8 | 19.6 | 600.0% |
| Saudi Arabia | 2.3 | 1.3 | 1.3 | 3.5 | 15.0% |
| United Arab Emirates | 0.7 | 0.5 | 0.9 | 1.6 | 31.7% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 12.9 | 9.7 | 19.2 | 52.2 | 59.4% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from Kuwait in 2022:
- Pakistan (28.7 tons)
- Bahrain (22.1 tons)
- United Arab Emirates (18.7 tons)
- Saudi Arabia (1.9 tons)
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