Price for Magnesium; Waste and Scrap in India - 2023
Contents:
- Price for Magnesium; Waste and Scrap in India (FOB) - 2023
- Price for Magnesium; Waste and Scrap in India (CIF) - 2022
- Exports of Magnesium; Waste and Scrap in India
- Imports of Magnesium; Waste and Scrap in India
Price for Magnesium; Waste and Scrap in India (FOB) - 2023
The average magnesium; waste and scrap export price stood at $2,010 per ton in September 2023, remaining relatively unchanged against the previous month. Overall, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in June 2023 an increase of 11% against the previous month. Over the period under review, the average export prices reached the peak figure at $3,127 per ton in September 2022; however, from October 2022 to September 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In September 2023, the highest price was recorded for prices to Turkey ($2,124 per ton) and the Netherlands ($2,058 per ton), while the average price for exports to Nepal ($1,866 per ton) and the United States ($1,963 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Magnesium; Waste and Scrap in India (CIF) - 2022
The average magnesium; waste and scrap import price stood at $2,011 per ton in 2022, falling by -2.2% against the previous year. In general, the import price saw a slight downturn. The growth pace was the most rapid in 2019 an increase of 38% against the previous year. As a result, import price reached the peak level of $2,346 per ton. From 2020 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Malaysia.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +16.9% per year.
Exports of Magnesium; Waste and Scrap in India
Magnesium; waste and scrap exports from India expanded modestly to 5.6K tons in 2022, with an increase of 4.2% on the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 482% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, magnesium; waste and scrap exports soared to $20M in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 635% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.
| Export of Magnesium; Waste and Scrap in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.8 | 0.9 | 3.8 | 12.4 | 64.2% |
| Netherlands | 0.1 | 0.1 | 2.1 | 6.7 | 306.2% |
| South Korea | 0.2 | N/A | 0.2 | 0.5 | 35.7% |
| Germany | N/A | N/A | 0.2 | N/A | 0% |
| Turkey | N/A | 0.2 | 2.1 | N/A | 950.0% |
| Others | 0.2 | N/A | 0.9 | 0.1 | -20.6% |
| Total | 3.2 | 1.3 | 9.4 | 19.7 | 83.3% |
Top Export Markets for Magnesium; Waste and Scrap from India in 2022:
- United States (3.8K tons)
- Netherlands (1.6K tons)
- South Korea (0.2K tons)
Imports of Magnesium; Waste and Scrap in India
In 2022, approx. 28 tons of magnesium; waste and scraps were imported into India; which is down by -29.6% against the year before. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 145% against the previous year. As a result, imports attained the peak of 39 tons, and then fell sharply in the following year.
In value terms, magnesium; waste and scrap imports shrank dramatically to $56K in 2022. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 166%. As a result, imports attained the peak of $81K, and then declined sharply in the following year.
| Import of Magnesium; Waste and Scrap in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 17.8 | 30.5 | 19.0 | 55.8 | 46.4% |
| Nigeria | 30.2 | N/A | N/A | N/A | 0% |
| United States | N/A | N/A | 62.1 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 48.0 | 30.5 | 81.1 | 55.8 | 5.1% |
Top Suppliers of Magnesium; Waste and Scrap to India in 2022:
- Malaysia (27.8 tons)
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