Sulphates; of Magnesium Price in Hong Kong SAR - 2023
Contents:
- Sulphates; of Magnesium Price in Hong Kong SAR (FOB) - 2022
- Sulphates; of Magnesium Price in Hong Kong SAR (CIF) - 2022
- Sulphates; of Magnesium Exports in Hong Kong SAR
- Sulphates; of Magnesium Imports in Hong Kong SAR
Sulphates; of Magnesium Price in Hong Kong SAR (FOB) - 2022
The average sulphates; of magnesium export price stood at $760 per ton in 2022, which is down by -3.6% against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 an increase of 86%. The export price peaked at $1,048 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($2,030 per ton), while the average price for exports to Australia ($441 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 Bangladesh (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.
Sulphates; of Magnesium Price in Hong Kong SAR (CIF) - 2022
In 2022, the average sulphates; of magnesium import price amounted to $1,138 per ton, which is down by -20% against the previous year. In general, the import price, however, continues to indicate a notable increase. The most prominent rate of growth was recorded in 2021 an increase of 72% against the previous year. As a result, import price attained the peak level of $1,423 per ton, and then shrank markedly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($3,205 per ton), while the price for Australia ($274 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Sulphates; of Magnesium Exports in Hong Kong SAR
After three years of growth, overseas shipments of sulphates; of magnesia decreased by -4.5% to 46 tons in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +25.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 67% against the previous year.
In value terms, sulphates; of magnesium exports declined to $35K in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 59% against the previous year.
| Export of Sulphates; of Magnesium in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 2.5 | 7.6 | 6.3 | 11.5 | 66.3% |
| Bangladesh | 2.5 | 6.1 | 4.1 | 6.1 | 34.6% |
| Indonesia | 7.0 | 9.8 | 2.2 | 3.4 | -21.4% |
| Netherlands | 0.1 | 0.6 | 2.0 | 3.1 | 214.1% |
| Australia | 0.6 | 1.5 | 1.1 | 1.8 | 44.2% |
| Malaysia | 1.2 | 1.9 | 1.2 | 1.6 | 10.1% |
| Hungary | 0.7 | 0.1 | 0.4 | 0.8 | 4.6% |
| Mozambique | N/A | N/A | 9.8 | N/A | 0% |
| Others | 5.5 | 4.3 | 10.8 | 6.7 | 6.8% |
| Total | 20.1 | 31.9 | 37.9 | 34.9 | 20.2% |
Top Export Markets for Sulphates; of Magnesium from Hong Kong SAR in 2022:
- Thailand (20.5 tons)
- Bangladesh (7.8 tons)
- Indonesia (5.6 tons)
- Australia (4.0 tons)
- Malaysia (2.7 tons)
- Netherlands (1.5 tons)
- Hungary (1.4 tons)
Sulphates; of Magnesium Imports in Hong Kong SAR
Sulphates; of magnesium imports into Hong Kong SAR fell to 27 tons in 2022, reducing by -3.8% compared with 2021 figures. In general, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 7.8% against the previous year.
In value terms, sulphates; of magnesium imports declined sharply to $31K in 2022. Overall, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when imports increased by 85%. As a result, imports reached the peak of $40K, and then reduced remarkably in the following year.
| Import of Sulphates; of Magnesium in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 16.3 | 10.7 | 16.5 | 16.7 | 0.8% |
| Germany | 2.2 | 3.3 | 4.8 | 4.5 | 26.9% |
| China | 3.4 | 4.1 | 3.1 | 4.4 | 9.0% |
| United States | 1.6 | 1.1 | 1.7 | 1.7 | 2.0% |
| Australia | 0.2 | 0.2 | 0.3 | 0.3 | 14.5% |
| Czech Republic | 5.7 | N/A | N/A | N/A | 0% |
| Others | 3.1 | 2.1 | 13.5 | 3.2 | 1.1% |
| Total | 32.6 | 21.5 | 39.9 | 30.7 | -2.0% |
Top Suppliers of Sulphates; of Magnesium to Hong Kong SAR in 2022:
- China (15.6 tons)
- Japan (5.2 tons)
- Germany (3.4 tons)
- United States (1.5 tons)
- Australia (0.9 tons)
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