Argentina: Molybdenum Ore Market 2022

Molybdenum Ore Market Size in Argentina

In 2021, the Argentinian molybdenum ore market increased by 7.4% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a perceptible expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Molybdenum Ore Production in Argentina

In value terms, molybdenum ore production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Molybdenum ore production peaked at $X in 2020, and then reduced in the following year.

Molybdenum Ore Exports

Exports from Argentina

In 2021, overseas shipments of molybdenum ores were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, showed a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 244%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, molybdenum ore exports declined to $X in 2021. Overall, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 135% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for molybdenum ore exports from Argentina, accounting for a 91% share of total exports. Moreover, molybdenum ore exports to South Korea exceeded the volume sent to the second major destination, Chile (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea amounted to +297.5%.

In value terms, South Korea ($X) emerged as the key foreign market for molybdenum ore exports from Argentina, comprising 94% of total exports. The second position in the ranking was taken by Chile ($X), with a 6.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +263.9%.

Export Prices by Country

The average molybdenum ore export price stood at $X per ton in 2021, shrinking by -4.6% against the previous year. Overall, the export price recorded a slight setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 55% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Chile stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (-5.1%), while the prices for the other major destinations experienced a decline.

Molybdenum Ore Imports

Imports into Argentina

After two years of decline, purchases abroad of molybdenum ores increased by 190% to X tons in 2021. Overall, imports, however, saw a abrupt setback. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, molybdenum ore imports skyrocketed to $X in 2021. In general, imports, however, saw a drastic downturn. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Chile (X tons) constituted the largest supplier of molybdenum ore to Argentina, accounting for a 83% share of total imports. Moreover, molybdenum ore imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from Chile totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.6% per year) and the Netherlands (+0.7% per year).

In value terms, Chile ($X) constituted the largest supplier of molybdenum ore to Argentina, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Chile totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.2% per year) and the Netherlands (-3.2% per year).

Import Prices by Country

In 2021, the average molybdenum ore import price amounted to $X per ton, growing by 22% against the previous year. Over the period under review, the import price, however, showed a mild contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 44% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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