Sulphates; of Magnesium Price in South Korea - 2022
Contents:
- Sulphates; of Magnesium Price in South Korea (CIF) - 2022
- Sulphates; of Magnesium Price in South Korea (FOB) - 2022
- Sulphates; of Magnesium Imports in South Korea
- Sulphates; of Magnesium Exports in South Korea
Sulphates; of Magnesium Price in South Korea (CIF) - 2022
The average sulphates; of magnesium import price stood at $317 per ton in 2022, approximately equating the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 import price decreased by +0.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $423 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($4,118 per ton), while the price for China ($217 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Sulphates; of Magnesium Price in South Korea (FOB) - 2022
In 2022, the average sulphates; of magnesium export price amounted to $2,057 per ton, increasing by 23% against the previous year. Over the period under review, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 179% against the previous year. Over the period under review, the average export prices hit record highs at $3,182 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($5,387 per ton), while the average price for exports to Myanmar ($387 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 India (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.
Sulphates; of Magnesium Imports in South Korea
After three years of growth, purchases abroad of sulphates; of magnesia decreased by -14% to 22K tons in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +13.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. As a result, imports reached the peak of 26K tons, and then contracted in the following year.
In value terms, sulphates; of magnesium imports declined to $7M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +8.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. As a result, imports attained the peak of $8.1M, and then reduced in the following year.
| Import of Sulphates; of Magnesium in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.3 | 2.7 | 4.5 | 4.1 | 21.3% |
| Japan | 1.9 | 2.1 | 2.0 | 1.8 | -1.8% |
| Germany | 0.5 | 0.5 | 0.5 | 0.5 | 0.0% |
| India | 0.6 | 0.5 | 0.5 | 0.4 | -12.6% |
| Others | 0.2 | 0.2 | 0.6 | 0.2 | 0.0% |
| Total | 5.4 | 5.9 | 8.1 | 7.0 | 9.0% |
Top Suppliers of Sulphates; of Magnesium to South Korea in 2022:
- China (18.8K tons)
- India (1.6K tons)
- Germany (1.1K tons)
- Japan (0.4K tons)
Sulphates; of Magnesium Exports in South Korea
After three years of growth, shipments abroad of sulphates; of magnesia decreased by -30.7% to 149 tons in 2022. Overall, exports, however, showed a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 115%. As a result, the exports reached the peak of 215 tons, and then dropped significantly in the following year.
In value terms, sulphates; of magnesium exports contracted to $307K in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, the exports reached the peak of $359K, and then dropped in the following year.
| Export of Sulphates; of Magnesium in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 19.4 | 28.9 | 47.4 | 116 | 81.5% |
| India | 189 | 144 | 121 | 78.0 | -25.5% |
| Myanmar | 31.3 | 28.6 | 28.8 | 28.7 | -2.8% |
| China | 8.8 | 8.4 | 17.3 | 18.7 | 28.6% |
| Czech Republic | 8.3 | 9.8 | 12.7 | 16.4 | 25.5% |
| Mexico | 5.1 | 6.5 | 13.9 | 15.0 | 43.3% |
| Indonesia | 1.4 | 9.6 | 10.4 | 11.3 | 100.6% |
| Poland | N/A | N/A | 56.5 | N/A | 0% |
| Others | 20.6 | 18.8 | 51.1 | 22.8 | 3.4% |
| Total | 284 | 255 | 359 | 307 | 2.6% |
Top Export Markets for Sulphates; of Magnesium from South Korea in 2022:
- Myanmar (74.2 tons)
- United States (27.5 tons)
- India (18.2 tons)
- Indonesia (8.5 tons)
- China (8.3 tons)
- Czech Republic (3.3 tons)
- Mexico (2.8 tons)
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