Chlorides; of Magnesium Price in the Philippines - 2023
Contents:
- Chlorides; of Magnesium Price in the Philippines (CIF) - 2022
- Chlorides; of Magnesium Price in the Philippines (FOB) - 2022
- Chlorides; of Magnesium Imports in the Philippines
- Chlorides; of Magnesium Exports in the Philippines
Chlorides; of Magnesium Price in the Philippines (CIF) - 2022
The average chlorides; of magnesium import price stood at $397 per ton in 2022, shrinking by -50.6% against the previous year. In general, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 36% against the previous year. Over the period under review, average import prices hit record highs at $805 per ton in 2021, and then plummeted in the following year.
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 India ($1,679 per ton), while the price for China ($110 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Chlorides; of Magnesium Price in the Philippines (FOB) - 2022
In 2021, the average chlorides; of magnesium export price amounted to $733 per ton, declining by -70.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average export price decreased by -0.5% against the previous year. Over the period under review, the average export prices hit record highs at $4,338 per ton in 2012; however, from 2013 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 South Korea.
From 2012 to 2021, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.
Chlorides; of Magnesium Imports in the Philippines
In 2022, imports of chlorides; of magnesia into the Philippines surged to 523 tons, with an increase of 71% on the previous year's figure. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, chlorides; of magnesium imports contracted significantly to $208K in 2022. Over the period under review, imports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2020 when imports increased by 3.2% against the previous year.
| Import of Chlorides; of Magnesium in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.3 | 57.7 | 44.5 | 58.7 | 50.3% |
| Czech Republic | 115 | 130 | 33.7 | 49.9 | -24.3% |
| China | 49.1 | 16.0 | 12.7 | 17.5 | -29.1% |
| Israel | 7.4 | 17.7 | 3.8 | 10.3 | 11.7% |
| Taiwan (Chinese) | 8.7 | 7.8 | 0.1 | 3.1 | -29.1% |
| Others | 36.6 | 12.9 | 151 | 68.3 | 23.1% |
| Total | 234 | 242 | 246 | 208 | -3.9% |
Top Suppliers of Chlorides; of Magnesium to the Philippines in 2022:
- China (160.1 tons)
- Netherlands (129.7 tons)
- Czech Republic (73.4 tons)
- Israel (66.1 tons)
- Taiwan (Chinese) (11.0 tons)
Chlorides; of Magnesium Exports in the Philippines
In 2021, approx. 15 kg of chlorides; of magnesia were exported from the Philippines; declining by -62.5% compared with the previous year's figure. Over the period under review, exports recorded a significant curtailment.
In value terms, chlorides; of magnesium exports reduced sharply to $11 in 2021. Overall, exports faced a sharp downturn.
| Export of Chlorides; of Magnesium in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | CAGR, 2020-2021 | ||
| South Korea | N/A | 11.0 | 0% | ||
| Hong Kong SAR | 100 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 100 | 11.0 | -89.0% | ||
Top Export Markets for Chlorides; of Magnesium from the Philippines in 2022:
- South Korea (15.0 kg)
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