Chlorides; of Magnesium Price in Kuwait - 2022

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

In 2022, the average chlorides; of magnesium import price amounted to $206 per ton, which is down by -44.2% against the previous year. Overall, the import price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2014 an increase of 110%. As a result, import price attained the peak level of $3,487 per ton. From 2015 to 2022, the average import prices remained 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 Germany ($1,747 per ton), while the price for India ($119 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 (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

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

In 2022, the average chlorides; of magnesium export price amounted to $669 per ton, with an increase of 4.7% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 6.5% against the previous year. Over the period under review, the average export prices attained the peak figure at $1,254 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Qatar amounted to -6.1% per year.

Chlorides; of Magnesium Imports in Kuwait

For the fourth consecutive year, Kuwait recorded growth in supplies from abroad of chlorides; of magnesia, which increased by 45% to 2.8K tons in 2022. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 211% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, chlorides; of magnesium imports fell significantly to $582K in 2022. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 162% against the previous year.

Import of Chlorides; of Magnesium in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	14.3	128	342	302	176.4%
Czech Republic	45.1	91.9	69.0	63.9	12.3%
Germany	63.3	92.3	98.8	54.6	-4.8%
United Arab Emirates	37.8	81.7	34.5	30.5	-6.9%
Others	9.3	50.8	176	131	141.5%
Total	170	445	720	582	50.7%

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

India (2538.8 tons)
United Arab Emirates (85.8 tons)
Czech Republic (64.5 tons)
Germany (31.3 tons)

Chlorides; of Magnesium Exports in Kuwait

In 2022, exports of chlorides; of magnesia from Kuwait expanded notably to 594 tons, with an increase of 10% on 2021 figures. In general, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 188% against the previous year. As a result, the exports reached the peak of 649 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chlorides; of magnesium exports surged to $397K in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 79%. As a result, the exports attained the peak of $450K. From 2021 to 2022, the growth of the exports remained at a lower figure.