Price for Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia - 2022
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia (FOB) - 2022
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia (CIF) - 2022
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia (FOB) - 2022
The average export price for magnesium; articles thereof, including waste and scrap stood at $762 per ton in 2021, waning by -29.4% against the previous year. Over the period under review, the export price, however, showed strong growth. The pace of growth was the most pronounced in 2014 an increase of 91%. The export price peaked at $1,512 per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Yemen ($4,507 per ton), while the average price for exports to Jordan ($98 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+40.6%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia (CIF) - 2022
The average import price for magnesium; articles thereof, including waste and scrap stood at $4,277 per ton in 2021, with an increase of 60% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $4,587 per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($4,084 per ton), while the price for India stood at $3,000 per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%).
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia
In 2022, overseas shipments of magnesium; articles thereof, including waste and scrap decreased by -91.1% to 52 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,135%.
In value terms, exports of magnesium; articles thereof, including waste and scrap declined sharply to $90K in 2022. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,217% against the previous year.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia (Thousand USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| Yemen | N/A | N/A | 347 | 0% |
| Jordan | N/A | N/A | 43.6 | 0% |
| Iraq | N/A | N/A | 43.1 | 0% |
| United Arab Emirates | N/A | 16.5 | 1.8 | -89.1% |
| Others | 3.9 | 34.8 | 11.7 | 73.2% |
| Total | 3.9 | 51.4 | 447 | 970.6% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from Saudi Arabia in 2022:
- Jordan (445.0 tons)
- Yemen (77.0 tons)
- Iraq (55.1 tons)
- United Arab Emirates (1.2 tons)
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Saudi Arabia
For the third consecutive year, Saudi Arabia recorded growth in supplies from abroad of magnesium; articles thereof, including waste and scrap, which increased by 26% to 8.5K tons in 2021. The total import volume increased at an average annual rate of +15.2% over the period from 2019 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of magnesium; articles thereof, including waste and scrap soared to $37M in 2021. Over the period under review, imports recorded significant growth. 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 Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| China | 18.2 | 16.1 | 30.8 | 30.1% |
| India | N/A | 0.5 | 0.7 | 40.0% |
| Others | 1.9 | 1.4 | 5.1 | 63.8% |
| Total | 20.0 | 18.0 | 36.5 | 35.1% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to Saudi Arabia in 2022:
- China (7.5K tons)
- India (0.2K tons)
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