Price for Magnesium; Articles Thereof, Including Waste and Scrap in the United States - 2024
Contents:
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in the United States (CIF) - 2024
- Price for Magnesium; Articles Thereof, Including Waste and Scrap in the United States (FOB) - 2024
- Imports of Magnesium; Articles Thereof, Including Waste and Scrap in the United States
- Exports of Magnesium; Articles Thereof, Including Waste and Scrap in the United States
Price for Magnesium; Articles Thereof, Including Waste and Scrap in the United States (CIF) - 2024
The average import price for magnesium; articles thereof, including waste and scrap stood at $7,661 per ton in May 2024, surging by 6.9% against the previous month. Over the period under review, the import price, however, continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in December 2023 when the average import price increased by 42% against the previous month. As a result, import price reached the peak level of $12,112 per ton. From January 2024 to May 2024, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($10,214 per ton), while the price for Taiwan (Chinese) ($1,898 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 Mexico (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Magnesium; Articles Thereof, Including Waste and Scrap in the United States (FOB) - 2024
In May 2024, the average export price for magnesium; articles thereof, including waste and scrap amounted to $7,002 per ton, which is down by -44.7% against the previous month. In general, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in January 2024 when the average export price increased by 58% against the previous month. The export price peaked at $35,909 per ton in May 2023; however, from June 2023 to May 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In May 2024, the country with the highest price was China ($9,204 per ton), while the average price for exports to the Netherlands ($1,610 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+1.1%), while the prices for the other major destinations experienced a decline.
Imports of Magnesium; Articles Thereof, Including Waste and Scrap in the United States
In 2022, supplies from abroad of magnesium; articles thereof, including waste and scrap was finally on the rise to reach 117K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of magnesium; articles thereof, including waste and scrap skyrocketed to $822M in 2022. Over the period under review, imports enjoyed a significant expansion. 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 the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Israel | 37.2 | 20.5 | 26.6 | 156 | 61.3% |
| Turkey | 13.6 | 35.6 | 19.4 | 107 | 98.9% |
| Czech Republic | 2.3 | 7.6 | 18.6 | 98.3 | 249.6% |
| Canada | 35.7 | 26.5 | 25.5 | 95.2 | 38.7% |
| Taiwan (Chinese) | 17.1 | 22.6 | 12.0 | 60.9 | 52.7% |
| China | 28.7 | 27.6 | 18.0 | 57.3 | 25.9% |
| Hungary | 1.1 | 8.2 | 4.3 | 51.8 | 261.1% |
| Germany | 8.2 | 9.0 | 7.9 | 32.5 | 58.3% |
| South Korea | 3.5 | 4.4 | 6.6 | 30.7 | 106.2% |
| Russia | 13.3 | 17.9 | 15.9 | 25.2 | 23.7% |
| Austria | 4.7 | 7.8 | 8.0 | 19.2 | 59.9% |
| Mexico | 11.6 | 13.8 | 13.1 | 19.0 | 17.9% |
| India | 3.7 | 1.4 | 3.0 | 17.8 | 68.8% |
| Others | 40.3 | 29.4 | 30.0 | 51.6 | 8.6% |
| Total | 221 | 232 | 209 | 822 | 54.9% |
Top Suppliers of Magnesium; Articles Thereof, Including Waste and Scrap to the United States in 2022:
- Turkey (24.8K tons)
- Canada (16.4K tons)
- Czech Republic (15.8K tons)
- Taiwan (Chinese) (10.9K tons)
- China (10.0K tons)
- Israel (6.2K tons)
- Hungary (5.8K tons)
- Russia (5.3K tons)
- South Korea (4.7K tons)
- Germany (4.4K tons)
- Mexico (3.3K tons)
- India (2.8K tons)
- Austria (2.4K tons)
Exports of Magnesium; Articles Thereof, Including Waste and Scrap in the United States
In 2022, shipments abroad of magnesium; articles thereof, including waste and scrap decreased by -20.5% to 8.4K tons, falling for the second year in a row after two years of growth. Overall, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2020 when exports increased by 36% against the previous year. As a result, the exports attained the peak of 16K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of magnesium; articles thereof, including waste and scrap expanded rapidly to $92M in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. 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 the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 28.6 | 35.0 | 41.8 | 45.9 | 17.1% |
| Mexico | 18.2 | 20.1 | 12.1 | 8.4 | -22.7% |
| China | 3.4 | 3.8 | 1.9 | 5.8 | 19.5% |
| South Korea | 0.6 | 1.9 | 1.4 | 1.7 | 41.5% |
| Israel | 0.9 | 1.2 | 0.6 | 1.1 | 6.9% |
| Netherlands | 0.2 | 0.3 | 0.6 | 1.1 | 76.5% |
| Turkey | N/A | 0.1 | 0.2 | 0.7 | 164.6% |
| Montenegro | 0.3 | N/A | N/A | 0.7 | 32.6% |
| Serbia | 0.1 | 1.4 | 0.4 | 0.5 | 71.0% |
| Australia | 0.7 | 0.9 | 0.8 | 0.5 | -10.6% |
| Thailand | N/A | N/A | 0.2 | 0.5 | 150.0% |
| Brazil | 3.4 | 0.7 | 0.2 | 0.4 | -51.0% |
| Others | 33.9 | 18.1 | 20.1 | 24.5 | -10.3% |
| Total | 90.4 | 83.4 | 80.4 | 92.0 | 0.6% |
Top Export Markets for Magnesium; Articles Thereof, Including Waste and Scrap from the United States in 2022:
- Canada (4524.4 tons)
- Mexico (766.8 tons)
- Serbia (428.0 tons)
- South Korea (425.2 tons)
- Montenegro (328.0 tons)
- Israel (239.3 tons)
- China (234.8 tons)
- Netherlands (231.6 tons)
- Turkey (150.6 tons)
- Thailand (148.8 tons)
- Australia (141.8 tons)
- Brazil (82.4 tons)
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