Sulphates; of Magnesium Price in Spain - 2023

Sulphates; of Magnesium Price in Spain (CIF) - 2022

In 2022, the average sulphates; of magnesium import price amounted to $388 per ton, declining by -5.9% against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2020 an increase of 52%. The import price peaked at $412 per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +10.8% per year.

Sulphates; of Magnesium Price in Spain (FOB) - 2022

In 2022, the average sulphates; of magnesium export price amounted to $331 per ton, increasing by 8.8% against the previous year. In general, the export price, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2018 an increase of 84%. Over the period under review, the average export prices hit record highs at $488 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($1,087 per ton), while the average price for exports to Estonia ($203 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 France (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphates; of Magnesium Imports in Spain

In 2022, approx. 17K tons of sulphates; of magnesia were imported into Spain; dropping by -5.5% against 2021 figures. In general, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 11% against the previous year.

In value terms, sulphates; of magnesium imports declined to $6.8M in 2022. The total import value increased at an average annual rate of +2.0% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. As a result, imports reached the peak of $7.6M, and then reduced in the following year.

Import of Sulphates; of Magnesium in Spain (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Turkey	0.1	0.1	0.5	6.8	308.2%
China	1.8	2.1	2.7	N/A	22.5%
Germany	3.4	3.2	3.2	N/A	-3.0%
India	0.6	0.2	0.1	N/A	-59.2%
Tunisia	N/A	N/A	0.5	N/A	0%
Portugal	0.3	0.2	0.2	N/A	-18.4%
Others	0.2	0.2	0.3	N/A	22.5%
Total	6.4	5.9	7.6	6.8	2.0%

Top Suppliers of Sulphates; of Magnesium to Spain in 2022:

Turkey (17.5K tons)

Sulphates; of Magnesium Exports in Spain

After three years of growth, shipments abroad of sulphates; of magnesia decreased by -37% to 6.8K tons in 2022. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 201%. As a result, the exports attained the peak of 11K tons, and then dropped remarkably in the following year.

In value terms, sulphates; of magnesium exports declined markedly to $2.2M in 2022. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 169%. As a result, the exports attained the peak of $3.3M, and then reduced notably in the following year.

Export of Sulphates; of Magnesium in Spain (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Estonia	N/A	N/A	1,505	1,049	-30.3%
Portugal	413	510	801	505	6.9%
France	261	355	397	181	-11.5%
Senegal	2.3	17.1	24.0	117	270.5%
Italy	24.3	28.8	139	72.4	43.9%
Others	913	304	398	314	-29.9%
Total	1,613	1,215	3,265	2,240	11.6%