Price for Magnesium; Waste and Scrap in the United States - 2023
Contents:
- Price for Magnesium; Waste and Scrap in the United States (CIF) - 2023
- Price for Magnesium; Waste and Scrap in the United States (FOB) - 2023
- Imports of Magnesium; Waste and Scrap in the United States
- Exports of Magnesium; Waste and Scrap in the United States
Price for Magnesium; Waste and Scrap in the United States (CIF) - 2023
The average magnesium; waste and scrap import price stood at $3,716 per ton in September 2023, surging by 8.3% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 16% against the previous month. As a result, import price reached the peak level of $4,072 per ton. From April 2023 to September 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($4,507 per ton), while the price for Austria ($894 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Mexico (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Magnesium; Waste and Scrap in the United States (FOB) - 2023
In September 2023, the average magnesium; waste and scrap export price amounted to $2,662 per ton, surging by 4.8% against the previous month. Over the period under review, export price indicated measured growth from September 2022 to September 2023: its price increased at an average monthly rate of +4.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, magnesium; waste and scrap export price increased by +29.2% against June 2023 indices. The pace of growth appeared the most rapid in March 2023 an increase of 104% against the previous month. As a result, the export price attained the peak level of $3,118 per ton. From April 2023 to September 2023, the the average export prices failed to regain momentum.
Average prices varied noticeably for the major foreign markets. In September 2023, the country with the highest price was Canada ($2,673 per ton), while the average price for exports to the Netherlands ($2,584 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Magnesium; Waste and Scrap in the United States
In 2022, overseas purchases of magnesium; waste and scraps increased by 200% to 57K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, magnesium; waste and scrap imports skyrocketed to $150M in 2022. Overall, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Magnesium; Waste and Scrap in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 30.4 | 22.1 | 19.0 | 51.1 | 18.9% |
| Czech Republic | 0.9 | 0.7 | 0.2 | 24.0 | 198.8% |
| China | 11.8 | 10.2 | 5.0 | 23.1 | 25.1% |
| India | 3.7 | 1.3 | 3.0 | 15.6 | 61.6% |
| Mexico | 7.8 | 10.4 | 9.1 | 11.8 | 14.8% |
| Taiwan (Chinese) | 3.6 | 3.6 | 2.9 | 9.3 | 37.2% |
| Germany | 1.5 | 0.4 | 1.1 | 7.8 | 73.2% |
| Spain | 5.2 | 0.7 | 1.1 | N/A | -54.0% |
| Others | 5.1 | 3.2 | 1.9 | 7.1 | 11.7% |
| Total | 70.0 | 52.8 | 43.1 | 150 | 28.9% |
Top Suppliers of Magnesium; Waste and Scrap to the United States in 2022:
- Canada (21.6K tons)
- Czech Republic (8.6K tons)
- China (7.5K tons)
- Germany (4.0K tons)
- India (3.8K tons)
- Taiwan (Chinese) (3.7K tons)
- Mexico (3.0K tons)
Exports of Magnesium; Waste and Scrap in the United States
In 2022, the amount of magnesium; waste and scraps exported from the United States soared to 2K tons, jumping by 27% on 2021 figures. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 134%. As a result, the exports attained the peak of 2.3K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, magnesium; waste and scrap exports soared to $3.9M in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 105% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Export of Magnesium; Waste and Scrap in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 411 | 69.2 | 1,806 | 982 | 33.7% |
| Netherlands | 27.1 | 11.9 | 175 | 884 | 219.5% |
| Montenegro | 212 | N/A | 24.8 | 563 | 38.5% |
| Serbia | 120 | 1,397 | 413 | 549 | 66.0% |
| Turkey | N/A | 14.9 | 46.6 | 263 | 320.1% |
| Mexico | 91.3 | 153 | 26.8 | 211 | 32.2% |
| Taiwan (Chinese) | N/A | 138 | 11.1 | 121 | -6.4% |
| India | N/A | N/A | N/A | 79.8 | 0% |
| Czech Republic | 413 | 1,192 | 300 | N/A | -14.8% |
| Others | 330 | 315 | 154 | 253 | -8.5% |
| Total | 1,605 | 3,292 | 2,957 | 3,905 | 34.5% |
Top Export Markets for Magnesium; Waste and Scrap from the United States in 2022:
- Netherlands (452.6 tons)
- Serbia (422.0 tons)
- Canada (345.1 tons)
- Montenegro (303.6 tons)
- Turkey (89.5 tons)
- Mexico (81.6 tons)
- India (72.7 tons)
- Taiwan (Chinese) (68.1 tons)
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