Mexico: Ferro-Manganese Market 2024

Ferro-Manganese Market Size in Mexico

The Mexican ferro-manganese market was finally on the rise to reach $X in 2023, after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Ferro-manganese consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Ferro-Manganese Production in Mexico

In value terms, ferro-manganese production rose markedly to $X in 2023 estimated in export price. Over the period under review, production, however, posted noticeable growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Ferro-Manganese Exports

Exports from Mexico

In 2023, after two years of growth, there was significant decline in shipments abroad of ferro-manganese, when their volume decreased by X% to X tons. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-manganese exports fell markedly to $X in 2023. Over the period under review, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Canada (X tons) was the main destination for ferro-manganese exports from Mexico, accounting for a X% share of total exports. Moreover, ferro-manganese exports to Canada exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, Canada ($X) emerged as the key foreign market for ferro-manganese exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by the Netherlands, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average ferro-manganese export price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-manganese export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Manganese Imports

Imports into Mexico

In 2020, approx. X tons of ferro-manganese were imported into Mexico; with an increase of X% on 2019. In general, imports, however, showed a precipitous contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

In value terms, ferro-manganese imports surged to $X in 2020. Overall, imports, however, faced a dramatic contraction. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2020, imports failed to regain momentum.

Imports by Country

In 2020, Russia (X tons) constituted the largest ferro-manganese supplier to Mexico, accounting for a X% share of total imports. Moreover, ferro-manganese imports from Russia exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold.

From 2012 to 2020, the average annual growth rate of volume from Russia amounted to X%.

In value terms, Russia ($X) and Spain ($X) were the largest ferro-manganese suppliers to Mexico.

Among the main suppliers, Russia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average ferro-manganese import price stood at $X per ton in 2020, waning by X% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2020, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Russia stood at $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform