Asia: Molybdenum Market 2024

Molybdenum Market Size in Asia

The Asian molybdenum market declined modestly to $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, recorded a perceptible slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Molybdenum Production in Asia

In value terms, molybdenum production declined to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable contraction. The growth pace was the most rapid in 2018 when the production volume increased by 50%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Molybdenum Exports

Exports in Asia

In 2022, overseas shipments of molybdenum decreased by -10.1% to X tons, falling for the fifth consecutive year after three years of growth. Over the period under review, exports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 158%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, molybdenum exports rose rapidly to $X in 2022. In general, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 119%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 84% of total exports in 2022. Japan (X tons) held a 6.5% share (based on physical terms) of total exports, which put it in second place, followed by Uzbekistan (5.3%). Hong Kong SAR (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the molybdenum exports, with a CAGR of +61.8% from 2012 to 2022. At the same time, Uzbekistan (+42.4%) and Japan (+31.8%) displayed positive paces of growth. By contrast, Hong Kong SAR (-14.8%) illustrated a downward trend over the same period. While the share of China (+83 p.p.), Japan (+5.9 p.p.) and Uzbekistan (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-10.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest molybdenum supplier in Asia, comprising 78% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Uzbekistan, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +62.4%. In the other countries, the average annual rates were as follows: Japan (+39.0% per year) and Uzbekistan (+68.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 18% against the previous year. Overall, the export price enjoyed strong growth. The growth pace was the most rapid in 2018 when the export price increased by 41% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+18.2%), while the other leaders experienced more modest paces of growth.

Molybdenum Imports

Imports in Asia

In 2022, approx. X tons of molybdenum were imported in Asia; increasing by 23% on 2021 figures. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 111% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, molybdenum imports rose markedly to $X in 2022. In general, imports showed a perceptible expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 165%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X tons) and Japan (X tons) represented roughly 65% of total imports in 2022. India (X tons) ranks next in terms of the total imports with a 16% share, followed by Taiwan (Chinese) (12%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +42.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest molybdenum importing markets in Asia were Japan ($X), Taiwan (Chinese) ($X) and India ($X), with a combined 81% share of total imports. South Korea and Hong Kong SAR lagged somewhat behind, together accounting for a further 16%.

South Korea, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, shrinking by -8.1% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 25% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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