China: Molybdenum Ore Market 2022

Molybdenum Ore Market Size in China

After two years of growth, the Chinese molybdenum ore market decreased by -65.7% to $X in 2021. Overall, consumption, however, continues to indicate a perceptible expansion. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Molybdenum Ore Production in China

In value terms, molybdenum ore production expanded remarkably to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12% against the previous year. Molybdenum ore production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Molybdenum Ore Exports

Exports from China

In 2021, shipments abroad of molybdenum ores increased by 1,199% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, molybdenum ore exports surged to $X in 2021. Overall, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for molybdenum ore exports from China, with a 56% share of total exports. Moreover, molybdenum ore exports to South Korea exceeded the volume sent to the second major destination, Thailand (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+24.8% per year) and the Netherlands (+9.6% per year).

In value terms, South Korea ($X) emerged as the key foreign market for molybdenum ore exports from China, comprising 58% of total exports. The second position in the ranking was held by Thailand ($X), with a 9.8% share of total exports. It was followed by the Netherlands, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+20.6% per year) and the Netherlands (+1.9% per year).

Export Prices by Country

In 2021, the average molybdenum ore export price amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 an increase of 39% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-3.4%), while the prices for the other major destinations experienced a decline.

Molybdenum Ore Imports

Imports into China

In 2021, after two years of growth, there was significant decline in supplies from abroad of molybdenum ores, when their volume decreased by -49.2% to X tons. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2020 with an increase of 368% against the previous year. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, molybdenum ore imports fell dramatically to $X in 2021. In general, imports, however, recorded strong growth. The growth pace was the most rapid in 2020 when imports increased by 260% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

Chile (X tons), Armenia (X tons) and Peru (X tons) were the main suppliers of molybdenum ore imports to China, with a combined 72% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +172.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest molybdenum ore suppliers to China were Chile ($X), Peru ($X) and Armenia ($X), together comprising 69% of total imports.

Peru, with a CAGR of +211.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average molybdenum ore import price amounted to $X per ton, growing by 40% against the previous year. In general, the import price, however, continues to indicate a perceptible decline. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 Belgium ($X per ton), while the price for Armenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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