Sulphates; of Magnesium Price in Australia - 2023
Contents:
- Sulphates; of Magnesium Price in Australia (CIF) - 2023
- Sulphates; of Magnesium Price in Australia (FOB) - 2022
- Sulphates; of Magnesium Imports in Australia
- Sulphates; of Magnesium Exports in Australia
Sulphates; of Magnesium Price in Australia (CIF) - 2023
In July 2023, the average sulphates; of magnesium import price amounted to $166 per ton, picking up by 6.8% against the previous month. In general, the import price, however, continues to indicate a deep slump. The pace of growth appeared the most rapid in November 2022 an increase of 28% m-o-m. The import price peaked at $408 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was India ($1,095 per ton), while the price for China ($154 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (+4.9%), while the prices for the other major suppliers experienced a decline.
Sulphates; of Magnesium Price in Australia (FOB) - 2022
The average sulphates; of magnesium export price stood at $1,772 per ton in 2022, declining by -4.3% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphates; of magnesium export price increased by +42.2% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 88% against the previous year. Over the period under review, the average export prices attained the maximum at $1,851 per ton in 2021, and then reduced slightly in the following year.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($1,761 per ton), while the average price for exports to Singapore amounted to $1,596 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.
Sulphates; of Magnesium Imports in Australia
After three years of growth, overseas purchases of sulphates; of magnesia decreased by -9.5% to 28K tons in 2022. The total import volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23%. As a result, imports attained the peak of 31K tons, and then shrank in the following year.
In value terms, sulphates; of magnesium imports reduced notably to $6M in 2022. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2021 with an increase of 99% against the previous year. As a result, imports reached the peak of $8M, and then reduced markedly in the following year.
| Import of Sulphates; of Magnesium in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.2 | 3.5 | 7.2 | 5.4 | 19.1% |
| India | 0.3 | 0.3 | 0.5 | 0.4 | 10.1% |
| Germany | 0.1 | 0.2 | 0.3 | 0.2 | 26.0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 3.8 | 4.0 | 8.0 | 6.0 | 16.4% |
Top Suppliers of Sulphates; of Magnesium to Australia in 2022:
- China (25.7K tons)
- India (1.7K tons)
- Germany (0.5K tons)
Sulphates; of Magnesium Exports in Australia
In 2022, the amount of sulphates; of magnesia exported from Australia dropped rapidly to 24 tons, reducing by -28.3% compared with the year before. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 153% against the previous year. As a result, the exports attained the peak of 34 tons, and then contracted markedly in the following year.
In value terms, sulphates; of magnesium exports declined sharply to $43K in 2022. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 168% against the previous year. As a result, the exports reached the peak of $63K, and then declined notably in the following year.
| Export of Sulphates; of Magnesium in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 25.7 | 22.9 | 20.6 | 42.6 | 18.3% |
| Singapore | 0.5 | 0.1 | 2.1 | 0.3 | -15.7% |
| United States | N/A | 0.5 | 37.1 | N/A | 7320.0% |
| Others | 3.1 | 0.1 | 3.3 | 0.4 | -49.5% |
| Total | 29.2 | 23.6 | 63.2 | 43.4 | 14.1% |
Top Export Markets for Sulphates; of Magnesium from Australia in 2022:
- New Zealand (24.2 tons)
- Singapore (0.2 tons)
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