Price for Magnesium; Waste and Scrap in Canada - 2023
Contents:
- Price for Magnesium; Waste and Scrap in Canada (FOB) - 2023
- Price for Magnesium; Waste and Scrap in Canada (CIF) - 2023
- Exports of Magnesium; Waste and Scrap in Canada
- Imports of Magnesium; Waste and Scrap in Canada
Price for Magnesium; Waste and Scrap in Canada (FOB) - 2023
In September 2023, the average magnesium; waste and scrap export price amounted to $4,553 per ton, increasing by 16% against the previous month. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in August 2023 when the average export price increased by 20% against the previous month. Over the period under review, the average export prices hit record highs at $4,831 per ton in March 2023; however, from April 2023 to September 2023, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From September 2022 to September 2023, the rate of growth in terms of prices for Belgium amounted to +20.1% per month.
Price for Magnesium; Waste and Scrap in Canada (CIF) - 2023
In September 2023, the average magnesium; waste and scrap import price amounted to $4,284 per ton, growing by 5.8% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 12% month-to-month. As a result, import price reached the peak level of $5,127 per ton. From November 2022 to September 2023, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($4,577 per ton), while the price for China stood at $3,997 per ton.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by France (0.0%), while the prices for the other major suppliers experienced a decline.
Exports of Magnesium; Waste and Scrap in Canada
After two years of decline, shipments abroad of magnesium; waste and scraps increased by 177% to 23K tons in 2022. In general, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, magnesium; waste and scrap exports skyrocketed to $55M in 2022. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Magnesium; Waste and Scrap in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 30.5 | 22.0 | 19.5 | 52.5 | 19.8% |
| Brazil | N/A | N/A | N/A | 2.1 | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 30.5 | 22.0 | 19.5 | 54.6 | 21.4% |
Top Export Markets for Magnesium; Waste and Scrap from Canada in 2022:
- United States (21.8K tons)
- Brazil (1.1K tons)
Imports of Magnesium; Waste and Scrap in Canada
In 2022, the amount of magnesium; waste and scraps imported into Canada soared to 6.4K tons, picking up by 107% against the previous year's figure. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2021 when imports increased by 10,317%. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, magnesium; waste and scrap imports surged to $17M in 2022. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 11,558%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Magnesium; Waste and Scrap in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | 1.8 | 12.9 | 616.7% |
| Germany | N/A | N/A | 3.3 | 3.0 | -9.1% |
| United States | 0.3 | 0.1 | 1.7 | 1.0 | 49.4% |
| Others | 0.1 | N/A | 1.0 | 0.5 | 71.0% |
| Total | 0.4 | 0.1 | 7.7 | 17.4 | 251.7% |
Top Suppliers of Magnesium; Waste and Scrap to Canada in 2022:
- China (5.3K tons)
- Germany (0.5K tons)
- United States (0.4K tons)
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