Sulphates; of Magnesium Price in Mexico - 2023

Sulphates; of Magnesium Price in Mexico (CIF) - 2023

In June 2023, the average sulphates; of magnesium import price amounted to $169 per ton, reducing by -21.2% against the previous month. Overall, the import price recorded a abrupt downturn. The pace of growth appeared the most rapid in March 2023 an increase of 142% against the previous month. Over the period under review, average import prices hit record highs at $413 per ton in June 2022; however, from July 2022 to June 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($868 per ton), while the price for China ($153 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 Germany (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Sulphates; of Magnesium Price in Mexico (FOB) - 2023

The average sulphates; of magnesium export price stood at $367 per ton in May 2023, almost unchanged from the previous month. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices hit record highs in May 2023.

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

From August 2022 to May 2023, the rate of growth in terms of prices for the United States amounted to +0.7% per month.

Sulphates; of Magnesium Imports in Mexico

In 2022, imports of sulphates; of magnesia into Mexico amounted to 48K tons, approximately equating the previous year's figure. The total import volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 13%. As a result, imports reached the peak of 48K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sulphates; of magnesium imports reduced to $7.4M in 2022. The total import value increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 4.8%.

Import of Sulphates; of Magnesium in Mexico (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.8	5.3	6.1	6.0	1.1%
United States	0.7	1.0	0.8	0.7	0.0%
Germany	0.5	0.8	0.6	0.6	6.3%
Others	0.1	0.4	0.1	0.1	0.0%
Total	7.0	7.4	7.5	7.4	1.9%

Top Suppliers of Sulphates; of Magnesium to Mexico in 2022:

China (44.6K tons)
Germany (1.6K tons)
United States (1.3K tons)

Sulphates; of Magnesium Exports in Mexico

After three years of growth, shipments abroad of sulphates; of magnesia decreased by -16.4% to 950 tons in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.4% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. As a result, the exports reached the peak of 1.1K tons, and then shrank markedly in the following year.

In value terms, sulphates; of magnesium exports dropped slightly to $316K in 2022. The total export value increased at an average annual rate of +12.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 39%.