China - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMagnesium Price in China - 2023
Contents:
- Magnesium Price in China (FOB) - 2023
- Magnesium Price in China (CIF) - 2022
- Magnesium Exports in China
- Magnesium Imports in China
Magnesium Price in China (FOB) - 2023
The average magnesium export price stood at $3,340 per ton in September 2023, growing by 7.9% against the previous month. Overall, the export price, however, saw a mild descent. Over the period under review, the average export prices hit record highs at $4,210 per ton in October 2022; however, from November 2022 to September 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4,536 per ton), while the average price for exports to Bahrain ($2,681 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 France (-0.4%), while the prices for the other major destinations experienced a decline.
Magnesium Price in China (CIF) - 2022
In 2022, the average magnesium import price amounted to $5,979 per ton, waning by -16% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 81% against the previous year. As a result, import price attained the peak level of $7,122 per ton, and then fell sharply in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($9,949 per ton), while the price for the United States ($2,089 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+19.1%), while the prices for the other major suppliers experienced a decline.
Magnesium Exports in China
In 2022, magnesium exports from China was estimated at 418K tons, with an increase of 7.8% compared with 2021 figures. The total export volume increased at an average annual rate of +5.8% 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 24%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, magnesium exports surged to $2.3B in 2022. Overall, exports posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 108% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
Export of Magnesium in China (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Netherlands | 207 | 172 | 464 | 523 | 36.2% |
Canada | 99.1 | 66.2 | 166 | 245 | 35.2% |
India | 47.5 | 35.6 | 82.0 | 136 | 42.0% |
Japan | 68.8 | 68.5 | 141 | 134 | 24.9% |
South Korea | 50.7 | 47.3 | 84.5 | 124 | 34.7% |
Turkey | 10.9 | 15.7 | 23.5 | 92.2 | 103.8% |
United Arab Emirates | 30.2 | 15.7 | 57.7 | 78.9 | 37.7% |
Taiwan (Chinese) | 29.6 | 32.9 | 56.4 | 77.6 | 37.9% |
Czech Republic | N/A | 1.7 | 5.1 | 70.1 | 542.1% |
United States | 27.7 | 21.0 | 11.4 | 60.8 | 30.0% |
Romania | 24.4 | 18.5 | 31.7 | 57.1 | 32.8% |
Mexico | 8.0 | 5.8 | 17.5 | 55.4 | 90.6% |
Bahrain | 13.5 | 9.8 | 35.5 | 53.0 | 57.8% |
Others | 273 | 248 | 405 | 551 | 26.4% |
Total | 891 | 759 | 1,581 | 2,260 | 36.4% |
Top Export Markets for Magnesium from China in 2022:
- Netherlands (96.6K tons)
- Canada (44.2K tons)
- India (23.7K tons)
- South Korea (22.5K tons)
- Japan (22.4K tons)
- Turkey (18.9K tons)
- United States (17.8K tons)
- Taiwan (Chinese) (14.4K tons)
- United Arab Emirates (14.2K tons)
- Czech Republic (12.9K tons)
- Romania (10.4K tons)
- Mexico (9.2K tons)
- Bahrain (8.3K tons)
Magnesium Imports in China
In 2022, imports of magnesium into China soared to 917 tons, growing by 757% compared with 2021. Overall, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, magnesium imports skyrocketed to $5.5M in 2022. Over the period under review, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Magnesium in China (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Russia | N/A | N/A | N/A | 5,119 | 0% |
South Korea | 22.0 | 54.4 | 74.5 | 250 | 124.8% |
United States | 154 | 150 | N/A | 32.6 | -40.4% |
Germany | 46.0 | 5.9 | N/A | 23.8 | -19.7% |
Taiwan (Chinese) | 132 | 544 | 674 | 6.7 | -63.0% |
Others | 27.3 | 53.5 | 14.1 | 50.3 | 22.6% |
Total | 382 | 808 | 762 | 5,482 | 143.0% |
Top Suppliers of Magnesium to China in 2022:
- Russia (844.3 tons)
- South Korea (37.3 tons)
- United States (15.6 tons)
- Germany (4.9 tons)
- Taiwan (Chinese) (0.7 tons)
This report provides an in-depth analysis of the magnesium market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In June 2023, the price of Magnesium was $3,130 per ton (FOB, China), which saw a decrease of 8.5% compared to the previous month.
In 2021, global magnesium production declined by 5% to 950K tons because several China's smelters had cut capacities to comply with energy consumption targets. China remains the largest exporter in the world, accounting for 58% of total magnesium supplies.
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