CIS: Molybdenum Market 2024

Molybdenum Market Size in CIS

The CIS molybdenum market reduced modestly to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then fell slightly in the following year.

Molybdenum Production in CIS

In value terms, molybdenum production shrank slightly to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 60%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Molybdenum Exports

Exports in CIS

After two years of decline, overseas shipments of molybdenum increased by 21% to X tons in 2022. Overall, exports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2018 when exports increased by 154%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, molybdenum exports skyrocketed to $X in 2022. In general, exports, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2018 when exports increased by 223% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the main exporting country with an export of around X tons, which amounted to 86% of total exports. It was distantly followed by Uzbekistan (X tons), committing a 14% share of total exports.

Exports from Russia increased at an average annual rate of +30.6% from 2012 to 2022. At the same time, Uzbekistan (+42.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +42.4% from 2012-2022. From 2012 to 2022, the share of Russia and Uzbekistan increased by +82 and +14 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest molybdenum supplier in the CIS, comprising 70% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at +24.2%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, surging by 4.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 34%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+18.2%).

Molybdenum Imports

Imports in CIS

In 2022, purchases abroad of molybdenum decreased by -5.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports faced a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 102%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, molybdenum imports contracted to $X in 2022. In general, imports saw a pronounced downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 142% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) represented the main importer of molybdenum in the CIS, comprising 99% of total import.

Russia experienced a relatively flat trend pattern with regard to volume of imports of molybdenum. Russia (+66 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported molybdenum in the CIS.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to +4.0%.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, falling by -4.2% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum import price increased by +6.5% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 64% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +3.9% per year.

Source: IndexBox Platform

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