Chlorides; of Magnesium Price in South Korea - 2022

Chlorides; of Magnesium Price in South Korea (CIF) - 2022

In 2022, the average chlorides; of magnesium import price amounted to $104 per ton, shrinking by -45.1% against the previous year. In general, the import price showed a drastic downturn. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. The import price peaked at $328 per ton in 2012; however, from 2013 to 2022, 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 2022, the rate of growth in terms of prices for China amounted to -7.2% per year.

Chlorides; of Magnesium Price in South Korea (FOB) - 2022

The average chlorides; of magnesium export price stood at $1,545 per ton in 2022, falling by -8.3% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chlorides; of magnesium export price increased by +11.0% against 2020 indices. The growth pace was the most rapid in 2013 when the average export price increased by 81%. As a result, the export price attained the peak level of $2,367 per ton. From 2014 to 2022, the average 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 the United States.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +31.4% per year.

Chlorides; of Magnesium Imports in South Korea

In 2022, approx. 111K tons of chlorides; of magnesia were imported into South Korea; increasing by 68% compared with the year before. Overall, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chlorides; of magnesium imports contracted to $12M in 2022. The total import value increased at an average annual rate of +1.9% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of $13M, and then contracted in the following year.

Import of Chlorides; of Magnesium in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	6.5	9.2	11.5	10.5	17.3%
Others	4.4	1.5	1.1	1.1	-37.0%
Total	11.0	10.6	12.6	11.6	1.8%

Top Suppliers of Chlorides; of Magnesium to South Korea in 2022:

China (109.4K tons)

Chlorides; of Magnesium Exports in South Korea

In 2022, the amount of chlorides; of magnesia exported from South Korea was estimated at 173 tons, picking up by 3.2% compared with 2021. Overall, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 89%. As a result, the exports reached the peak of 181 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, chlorides; of magnesium exports shrank to $267K in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +25.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 85%.