Eastern Asia: Molybdenum Market 2024

Molybdenum Market Size in Eastern Asia

The East Asian molybdenum market dropped slightly to $X in 2022, remaining stable against the previous year. In general, consumption, however, saw a pronounced downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Molybdenum Production in Eastern Asia

In value terms, molybdenum production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 49% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Molybdenum Exports

Exports in Eastern Asia

In 2022, overseas shipments of molybdenum decreased by -8.9% to X tons, falling for the fifth year in a row after three years of growth. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 1,402%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, molybdenum exports rose modestly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,130%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 90% of total exports in 2022. It was distantly followed by Japan (X tons), achieving a 7% share of total exports. Hong Kong SAR (X tons) took a little 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, Japan (+31.8%) displayed positive paces of growth. By contrast, Hong Kong SAR (-14.8%) illustrated a downward trend over the same period. China (+83 p.p.) and Japan (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -79.4% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest molybdenum supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +62.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+39.0% per year) and Hong Kong SAR (-12.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, the export price enjoyed a notable increase. The pace of growth was the most pronounced in 2018 an increase of 39%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Japan (+5.4%), while the other leaders experienced more modest paces of growth.

Molybdenum Imports

Imports in Eastern Asia

In 2022, imports of molybdenum in Eastern Asia surged to X tons, picking up by 51% against 2021. Overall, imports enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2017 when imports increased by 132% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, molybdenum imports skyrocketed to $X in 2022. Over the period under review, imports recorded perceptible growth. The pace of growth was the most pronounced in 2017 when imports increased by 186% against the previous year. Over the period under review, imports attained the peak figure 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 the major importers of molybdenum in 2022, recording approx. 45% and 35% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 15% share of total imports. 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 main 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, Japan ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising 95% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, 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 Eastern Asia stood at $X per ton in 2022, reducing by -16.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 23% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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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