South Africa: Magnesium Market 2022

Magnesium Exports

Exports from South Africa

In 2021, approx. X tonnes of magnesium were exported from South Africa; jumping by X% compared with the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tonnes in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnesium exports surged to $X in 2021. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2020 when exports increased by X% y-o-y. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The UK (X tonnes) was the main destination for magnesium exports from South Africa, with a X% share of total exports. Moreover, magnesium exports to the UK exceeded the volume sent to the second major destination, Zimbabwe (X tonnes), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+X% per year) and Swaziland (+X% per year).

In value terms, the UK ($X) emerged as the key foreign market for magnesium exports from South Africa, comprising X% of total exports. The second position in the ranking was occupied by Swaziland ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (+X% per year) and Zimbabwe (+X% per year).

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the export price, however, showed a significant increase. The pace of growth was the most pronounced in 2020 an increase of X% year-to-year. As a result, the export price attained the peak level of $X per tonne, and then declined sharply in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Swaziland ($X per tonne), while the average price for exports to Zimbabwe ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Magnesium Imports

Imports into South Africa

In 2021, the amount of magnesium imported into South Africa was estimated at X tonnes, remaining stable against the previous year. Overall, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2017 to 2021, the growth imports remained at a lower figure.

In value terms, magnesium imports dropped slightly to $X in 2021. In general, imports, however, showed a deep downturn. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tonnes) was the main supplier of magnesium to South Africa, with a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -X%.

In value terms, China ($X) constituted the largest supplier of magnesium to South Africa.

From 2012 to 2021, the average annual growth rate of value from China amounted to -X%.

Import Prices by Country

The average magnesium import price stood at $X per tonne in 2021, approximately reflecting the previous year. In general, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -X% per year.

Source: IndexBox Platform