South Africa - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMagnesium Price in South Africa - 2023
Contents:
- Magnesium Price in South Africa (CIF) - 2023
- Magnesium Price in South Africa (FOB) - 2022
- Magnesium Imports in South Africa
- Magnesium Exports in South Africa
Magnesium Price in South Africa (CIF) - 2023
The average magnesium import price stood at $2,947 per ton in September 2023, remaining relatively unchanged against the previous month. Over the period under review, the import price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in July 2023 when the average import price increased by 28% month-to-month. As a result, import price attained the peak level of $3,848 per ton. From August 2023 to September 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From September 2022 to September 2023, the rate of growth in terms of prices for China amounted to -2.1% per month.
Magnesium Price in South Africa (FOB) - 2022
The average magnesium export price stood at $44,025 per ton in 2022, growing by 386% against the previous year. In general, the export price saw a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mauritius ($81,472 per ton), while the average price for exports to Democratic Republic of the Congo stood at $4,134 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (+5.7%).
Magnesium Imports in South Africa
In 2022, approx. 5.3K tons of magnesium were imported into South Africa; with an increase of 10% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, magnesium imports surged to $30M in 2022. Overall, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Magnesium in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.7 | 7.9 | 14.1 | 29.6 | 32.6% |
| Others | 0.1 | 1.1 | 0.1 | N/A | 0.0% |
| Total | 12.8 | 9.0 | 14.2 | 29.6 | 32.2% |
Top Suppliers of Magnesium to South Africa in 2022:
- China (5.3K tons)
Magnesium Exports in South Africa
In 2022, overseas shipments of magnesium decreased by -91.4% to 1 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a sharp downturn. The pace of growth was the most pronounced in 2020 when exports increased by 247% against the previous year. As a result, the exports attained the peak of 36 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, magnesium exports fell markedly to $46K in 2022. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 564%. As a result, the exports reached the peak of $215K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Magnesium in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mauritius | N/A | N/A | N/A | 43.7 | 0% |
| Democratic Republic of the Congo | N/A | N/A | N/A | 2.1 | 0% |
| Zimbabwe | 19.9 | 30.9 | 86.5 | N/A | 108.5% |
| Malaysia | N/A | 164 | N/A | N/A | 0% |
| United Kingdom | N/A | N/A | 1.9 | N/A | 0% |
| Zambia | 3.3 | 11.1 | N/A | N/A | 236.4% |
| Canada | N/A | N/A | 19.6 | N/A | 0% |
| Others | 9.2 | 9.3 | 2.0 | N/A | -53.4% |
| Total | 32.4 | 215 | 110 | 45.7 | 12.1% |
Top Export Markets for Magnesium from South Africa in 2022:
- Mauritius (536.0 kg)
- Democratic Republic of the Congo (500.0 kg)
This report provides an in-depth analysis of the magnesium market in South Africa. 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:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- 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 May 2023, the price of Magnesium was $2,958 per ton (CIF, South Africa), showing a decrease of -13% compared to the previous month.
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