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The highest growth rate was observed in April 2023, with a 25% increase compared to the previous month. In terms of value, magnesium imports decreased to $8.2M in September 2023.
Imports of Magnesium reached their highest level and are expected to continue growing in the near future. The value of Magnesium imports soared to $10M in July 2023.
Imports of Magnesium contracted to $6.3M in July 2023 in terms of value.
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 May 2023, the price of Magnesium was $2,958 per ton (CIF, South Africa), showing a decrease of -13% compared to the previous month.
In January 2023, the magnesium price stood at $10,084 per ton (FOB, Turkey), reducing by -8.2% against the previous month.
In February 2023, the magnesium price amounted to $4,372 per ton (CIF, Italy), with a decrease of -11.9% against the previous month.
In August 2022, the magnesium price amounted to $5,111 per ton (CIF, Canada), which is down by -34.1% against 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.
Limiting industrial carbon dioxide emissions in China has halted work in two-thirds of Shaanxi's fifty magnesium plants, while the rest of the factories will be required to halve production. As a result, in the next six months, the global market may face a deficit, hitting the European automotive industry particularly hard. The German Non-Ferrous Metals Association (WVM) calls on the German government to begin negotiations with China to increase magnesium supplies to Europe.
In value terms, magnesium imports stood at $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some noticeable fluctuation...
In value terms, magnesium exports stood at $X in 2016. Overall, magnesium exports continue to indicate a moderate deduction. In that year, global magnesium exports reached its maximum level of $X>
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