Chlorides; of Magnesium Price in Ecuador - 2022

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

The average chlorides; of magnesium import price stood at $567 per ton in 2022, falling by -23.2% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 31%. Over the period under review, average import prices attained the maximum at $3,250 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($2,624 per ton), while the price for China ($368 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.2%), while the prices for the other major suppliers experienced a decline.

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

In 2021, the average chlorides; of magnesium export price amounted to $1,327 per ton, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 71% against the previous year. Over the period under review, the average export prices reached the maximum at $8,402 per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Panama.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to +70.8% per year.

Chlorides; of Magnesium Imports in Ecuador

In 2022, the amount of chlorides; of magnesia imported into Ecuador soared to 863 tons, increasing by 37% on the previous year. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 49%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, chlorides; of magnesium imports reached $490K in 2022. The total import value increased at an average annual rate of +8.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 34%. As a result, imports attained the peak of $514K. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Chlorides; of Magnesium in Ecuador (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	121	291	173	209	20.0%
Israel	8.8	8.6	34.8	85.7	113.5%
Germany	118	93.5	44.6	52.4	-23.7%
Czech Republic	103	65.8	45.8	27.3	-35.8%
Others	34.0	55.5	167	115	50.1%
Total	385	514	465	490	8.4%

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

China (567.9 tons)
Israel (152.8 tons)
Germany (26.0 tons)
Czech Republic (10.4 tons)

Chlorides; of Magnesium Exports in Ecuador

In 2021, chlorides; of magnesium exports from Ecuador stood at 13 tons, standing approx. at the previous year's figure. Over the period under review, exports showed a precipitous curtailment. The smallest decline of 99.9% was in 2020.

In value terms, chlorides; of magnesium exports stood at $17K in 2021. Overall, exports faced a sharp shrinkage. The smallest decline of 99.9% was in 2020.