Price for Iron Oxides and Hydroxides in Panama - 2023
Contents:
- Price for Iron Oxides and Hydroxides in Panama (CIF) - 2022
- Price for Iron Oxides and Hydroxides in Panama (FOB) - 2022
- Imports of Iron Oxides and Hydroxides in Panama
- Exports of Iron Oxides and Hydroxides in Panama
Price for Iron Oxides and Hydroxides in Panama (CIF) - 2022
In 2022, the average iron oxides and hydroxides import price amounted to $2,486 per ton, jumping by 16% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($3,099 per ton) and the United States ($2,868 per ton), while the price for Colombia ($2,284 per ton) and Belgium ($2,467 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+33.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron Oxides and Hydroxides in Panama (FOB) - 2022
In 2022, the average iron oxides and hydroxides export price amounted to $1,313 per ton, dropping by -19.9% against the previous year. In general, the export price saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 27% against the previous year. As a result, the export price reached the peak level of $1,959 per ton. From 2014 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($22,667 per ton), while the average price for exports to Costa Rica ($544 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron Oxides and Hydroxides in Panama
In 2022, approx. 26 tons of iron oxides and hydroxideses were imported into Panama; which is down by -67.4% against 2021. Over the period under review, imports faced a precipitous decrease. The growth pace was the most rapid in 2021 when imports increased by 107% against the previous year.
In value terms, iron oxides and hydroxides imports contracted dramatically to $65K in 2022. Overall, imports showed a precipitous setback. The growth pace was the most rapid in 2021 when imports increased by 102% against the previous year.
| Import of Iron Oxides and Hydroxides in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 32.8 | 10.9 | 49.4 | 47.5 | 13.1% |
| Colombia | 14.0 | 26.0 | 56.8 | 11.4 | -6.6% |
| Spain | 1.7 | 1.4 | 0.7 | 3.2 | 23.5% |
| United States | 0.7 | 0.9 | 3.0 | 2.1 | 44.2% |
| Free Zones | 34.3 | 5.0 | 3.3 | N/A | -69.0% |
| China | 14.9 | 15.3 | 14.0 | N/A | -3.1% |
| Costa Rica | 63.6 | 12.4 | 32.4 | N/A | -28.6% |
| Others | 13.6 | 12.6 | 11.3 | 0.6 | -64.7% |
| Total | 176 | 84.5 | 171 | 64.8 | -28.3% |
Top Suppliers of Iron Oxides and Hydroxides to Panama in 2022:
- Belgium (19.3 tons)
- Colombia (5.0 tons)
- Spain (1.0 tons)
- United States (0.7 tons)
Exports of Iron Oxides and Hydroxides in Panama
In 2022, shipments abroad of iron oxides and hydroxideses decreased by -76.1% to 1.1 tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2020 when exports increased by 5.2% against the previous year. As a result, the exports reached the peak of 11 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, iron oxides and hydroxides exports contracted sharply to $1.5K in 2022. Over the period under review, exports faced a significant decrease. The smallest decline of -7% was in 2020.
| Export of Iron Oxides and Hydroxides in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Venezuela | 5.8 | 4.9 | 3.4 | 0.8 | -48.3% |
| Costa Rica | 4.0 | 3.3 | 2.4 | 0.6 | -46.9% |
| Guatemala | 1.3 | 0.9 | 0.5 | 0.1 | -57.5% |
| Barbados | N/A | 2.0 | 1.4 | N/A | -30.0% |
| Guyana | 0.7 | 0.3 | N/A | N/A | -57.1% |
| Suriname | 2.3 | N/A | N/A | N/A | 0% |
| Others | 2.4 | 4.0 | N/A | N/A | 66.7% |
| Total | 16.4 | 15.3 | 7.6 | 1.5 | -54.9% |
Top Export Markets for Iron Oxides and Hydroxides from Panama in 2022:
- Costa Rica (1064.0 kg)
- Venezuela (46.0 kg)
- Guatemala (3.0 kg)
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