Price for Magnesium; Articles Thereof, Including Waste and Scrap in Thailand - 2024
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (CIF) - 2024
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (FOB) - 2022
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (CIF) - 2024
The average import price for magnesium; articles thereof, including waste and scrap stood at $3,947 per ton in May 2024, with an increase of 15% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $4,034 per ton in July 2023; however, from August 2023 to May 2024, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In May 2024, the country with the highest price was the UK ($14,924 per ton), while the price for China ($3,464 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (FOB) - 2022
The average export price for magnesium; articles thereof, including waste and scrap stood at $1,750 per ton in 2022, growing by 15% against the previous year. In general, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 an increase of 28%. Over the period under review, the average export prices hit record highs at $2,512 per ton in 2012; however, from 2013 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 Vietnam ($2,385 per ton), while the average price for exports to the United States ($581 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 Vietnam (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand
In 2022, imports of magnesium; articles thereof, including waste and scrap into Thailand contracted to 8.3K tons, reducing by -5.9% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, imports attained the peak of 8.8K tons, and then reduced in the following year.
In value terms, imports of magnesium; articles thereof, including waste and scrap skyrocketed to $44M in 2022. Overall, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 157%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 18.0 | 11.4 | 30.7 | 42.2 | 32.8% |
| Japan | 0.3 | 0.1 | 0.2 | 0.7 | 32.6% |
| Vietnam | 0.3 | 0.8 | 0.8 | 0.5 | 18.6% |
| Others | 0.5 | 0.2 | 0.5 | 0.9 | 21.6% |
| Total | 19.2 | 12.6 | 32.2 | 44.4 | 32.2% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to Thailand in 2022:
- China (7.7K tons)
- Vietnam (0.4K tons)
- Japan (0.2K tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand
In 2022, shipments abroad of magnesium; articles thereof, including waste and scrap decreased by -26.3% to 1.5K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 80% against the previous year. As a result, the exports attained the peak of 2.1K tons, and then shrank markedly in the following year.
In value terms, exports of magnesium; articles thereof, including waste and scrap plummeted to $2.7M in 2022. Over the period under review, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 68% against the previous year. As a result, the exports reached the peak of $3.2M, and then declined dramatically in the following year.
| Export of Magnesium; Articles Thereof, Including Waste and Scrap in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 75.4 | 199 | 260 | 1,113 | 145.3% |
| Vietnam | 788 | 1,096 | 1,734 | 681 | -4.7% |
| Japan | 480 | 445 | 375 | 481 | 0.1% |
| South Korea | 0.1 | 27.5 | 178 | 224 | 1208.4% |
| Netherlands | N/A | 5.7 | 28.0 | 100 | 318.9% |
| Germany | N/A | N/A | N/A | 46.7 | 0% |
| United States | 246 | 69.5 | 0.5 | 10.8 | -64.7% |
| Hong Kong SAR | N/A | N/A | 475 | N/A | 0% |
| Others | 18.4 | 38.8 | 105 | 7.7 | -25.2% |
| Total | 1,608 | 1,882 | 3,155 | 2,665 | 18.3% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from Thailand in 2022:
- Brazil (595.9 tons)
- Japan (382.0 tons)
- Vietnam (285.8 tons)
- South Korea (165.2 tons)
- Netherlands (49.6 tons)
- Germany (25.0 tons)
- United States (18.6 tons)
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