Latin America and the Caribbean: Molybdenum Market 2022

Molybdenum Market Size in Latin America and the Caribbean

In 2021, after nine years of growth, there was decline in the Latin American molybdenum market, when its value decreased by -X% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined modestly in the following year.

Molybdenum Production in Latin America and the Caribbean

In value terms, molybdenum production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Production By Country in Latin America and the Caribbean

Chile (X tonnes) remains the largest molybdenum producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, molybdenum production in Chile exceeded the figures recorded by the second-largest producer, Peru (X tonnes), threefold.

From 2012 to 2021, the average annual growth rate of volume in Chile totaled +X%. In the other countries, the average annual rates were as follows: Peru (+X% per year) and Mexico (+X% per year).

Molybdenum Exports

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of molybdenum decreased by -X% to X kg in 2019. Over the period under review, exports saw a dramatic slump. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tonnes in 2014; however, from 2015 to 2019, the exports failed to regain momentum.

In value terms, molybdenum exports reduced rapidly to $X in 2019. Overall, exports saw a dramatic curtailment. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2019, the exports failed to regain momentum.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per kg in 2019, declining by -X% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2016 to 2019, the the export prices remained at a somewhat lower figure.

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

From 2012 to 2019, the rate of growth in terms of prices for Brazil amounted to -X% per year.

Molybdenum Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of molybdenum increased by X% to X tonnes for the first time since 2015, thus ending a five-year declining trend. In general, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2014 with an increase of X%. The volume of import peaked at X tonnes in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, molybdenum imports rose rapidly to $X in 2021. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

Brazil represented the major importing country with an import of about X tonnes, which amounted to X% of total imports. It was distantly followed by Mexico (X tonnes), making up a X% share of total imports. Argentina (X tonnes) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to molybdenum imports into Brazil stood at -X%. At the same time, Mexico (+X%) and Argentina (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. Mexico (+X p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported molybdenum in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports.

In Brazil, molybdenum imports decreased by an average annual rate of -X% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Argentina (+X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per tonne in 2021, reducing by -X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per tonne in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per tonne), while Brazil ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform