Chlorides; of Magnesium Price in Nigeria - 2022
Contents:
- Chlorides; of Magnesium Price in Nigeria (CIF) - 2022
- Chlorides; of Magnesium Price in Nigeria (FOB) - 2022
- Chlorides; of Magnesium Imports in Nigeria
- Chlorides; of Magnesium Exports in Nigeria
Chlorides; of Magnesium Price in Nigeria (CIF) - 2022
The average chlorides; of magnesium import price stood at $553 per ton in 2022, with a decrease of -64.8% against the previous year. Over the period under review, the import price recorded a abrupt decline. The growth pace was the most rapid in 2014 an increase of 407%. The import price peaked at $8,246 per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($2,651 per ton), while the price for China ($97 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Chlorides; of Magnesium Price in Nigeria (FOB) - 2022
In 2022, the average chlorides; of magnesium export price amounted to $6,000 per ton, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a significant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 217% against the previous year. Over the period under review, the average export prices hit record highs at $8,000 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the Netherlands.
From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +27.1% per year.
Chlorides; of Magnesium Imports in Nigeria
In 2022, overseas purchases of chlorides; of magnesia were finally on the rise to reach 64 tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, chlorides; of magnesium imports shrank notably to $36K in 2022. In general, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 61% against the previous year.
| Import of Chlorides; of Magnesium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 45.0 | 16.3 | 35.9 | 25.8 | -16.9% |
| China | 8.7 | 8.5 | 0.1 | 4.8 | -18.0% |
| Germany | 4.1 | 2.2 | 4.2 | 2.7 | -13.0% |
| India | 1.2 | 0.1 | 0.8 | 0.5 | -25.3% |
| Sweden | 1.7 | N/A | N/A | N/A | 0% |
| Portugal | 5.8 | N/A | N/A | N/A | 0% |
| Others | 0.4 | 0.2 | 3.0 | 1.8 | 65.1% |
| Total | 66.9 | 27.3 | 43.9 | 35.6 | -19.0% |
Top Suppliers of Chlorides; of Magnesium to Nigeria in 2022:
- China (49.3 tons)
- Belgium (9.7 tons)
- India (2.7 tons)
- Germany (2.0 tons)
Chlorides; of Magnesium Exports in Nigeria
Chlorides; of magnesium exports from Nigeria totaled 1 kg in 2022, remaining stable against the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, chlorides; of magnesium exports stood at $6 in 2022. Overall, exports showed a abrupt contraction. The smallest decline of -12.5% was in 2020.
| Export of Chlorides; of Magnesium in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 8.0 | 7.0 | 6.0 | 6.0 | -9.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 8.0 | 7.0 | 6.0 | 6.0 | -9.1% |
Top Export Markets for Chlorides; of Magnesium from Nigeria in 2022:
- Netherlands (1.0 kg)
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