Sulphates; of Magnesium Price in Ecuador - 2022

Sulphates; of Magnesium Price in Ecuador (CIF) - 2022

In January 2022, the average sulphates; of magnesium import price amounted to $290 per ton, rising by 4.1% against the previous month. Overall, the import price posted measured growth. The growth pace was the most rapid in May 2021 an increase of 96% against the previous month. As a result, import price attained the peak level of $322 per ton. From June 2021 to January 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In January 2022, the country with the highest price was Germany ($350 per ton), while the price for China totaled $288 per ton.

From January 2021 to January 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphates; of Magnesium Price in Ecuador (FOB) - 2022

The average sulphates; of magnesium export price stood at $4,775 per ton in 2022, waning by -3.2% against the previous year. In general, the export price, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2016 an increase of 307%. The export price peaked at $4,931 per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($29,839 per ton), while the average price for exports to Colombia amounted to $1,689 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphates; of Magnesium Imports in Ecuador

In 2022, the amount of sulphates; of magnesia imported into Ecuador declined to 43K tons, shrinking by -6.6% on 2021. The total import volume increased at an average annual rate of +1.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports reached the peak of 46K tons, and then shrank in the following year.

In value terms, sulphates; of magnesium imports dropped to $6.8M in 2022. Over the period under review, imports saw a mild downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 15% against the previous year. As a result, imports attained the peak of $7.3M, and then contracted in the following year.

Import of Sulphates; of Magnesium in Ecuador (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.1	3.9	4.3	4.6	-3.4%
Germany	1.7	2.0	1.6	1.7	0.0%
Peru	0.3	0.2	0.4	0.4	10.1%
Others	0.2	0.1	1.0	0.1	-20.6%
Total	7.2	6.3	7.3	6.8	-1.9%

Top Suppliers of Sulphates; of Magnesium to Ecuador in 2022:

China (33.5K tons)
Germany (7.4K tons)
Peru (1.6K tons)

Sulphates; of Magnesium Exports in Ecuador

In 2022, overseas shipments of sulphates; of magnesia were finally on the rise to reach 178 kg for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a pronounced contraction.

In value terms, sulphates; of magnesium exports declined modestly to $850 in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 1.8%. As a result, the exports attained the peak of $858, leveling off in the following year.