Salts; Molybdates Price in Canada - 2023

Salts; Molybdates Price in Canada (CIF) - 2023

The average salts; molybdates import price stood at $19,267 per ton in June 2023, with an increase of 57% against the previous month. Overall, the import price enjoyed mild growth. The pace of growth was the most pronounced in December 2022 when the average import price increased by 103% m-o-m. As a result, import price attained the peak level of $26,442 per ton. From January 2023 to June 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In June 2023, the country with the highest price was China ($20,207 per ton), while the price for India ($17,296 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by India (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Salts; Molybdates Price in Canada (FOB) - 2023

In June 2023, the average salts; molybdates export price amounted to $39,442 per ton, with a decrease of -4.3% against the previous month. Overall, the export price, however, posted a temperate increase. The pace of growth was the most pronounced in December 2022 when the average export price increased by 103% month-to-month. As a result, the export price attained the peak level of $49,355 per ton. From January 2023 to June 2023, the the average export prices failed to regain momentum.

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

From August 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +3.4% per month.

Salts; Molybdates Imports in Canada

In 2022, the amount of salts; molybdateses imported into Canada expanded markedly to 488 tons, picking up by 8.6% on the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, salts; molybdates imports skyrocketed to $6.4M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +7.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Salts; Molybdates in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	4.6	3.5	4.8	5.6	6.8%
India	N/A	0.1	0.4	0.5	123.6%
China	0.5	0.1	0.2	0.2	-26.3%
Others	N/A	0.1	0.1	N/A	0.0%
Total	5.2	3.8	5.5	6.4	7.2%

Top Suppliers of Salts; Molybdates to Canada in 2022:

United States (421.2 tons)
India (39.1 tons)
China (25.5 tons)

Salts; Molybdates Exports in Canada

In 2022, after two years of growth, there was significant decline in shipments abroad of salts; molybdateses, when their volume decreased by -10.2% to 178 tons. Over the period under review, total exports indicated a significant expansion from 2020 to 2022: its volume increased at an average annual rate of +24.8% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 73% against the previous year. As a result, the exports reached the peak of 198 tons, and then dropped in the following year.

In value terms, salts; molybdates exports amounted to $4.8M in 2022. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 177%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.