Peru: Molybdenum Ore Market 2022

Molybdenum Ore Market Size in Peru

In 2021, the Peruvian molybdenum ore market increased by 89% to $X for the first time since 2015, thus ending a five-year declining trend. In general, consumption, however, showed a deep setback. Molybdenum ore consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Molybdenum Ore Production in Peru

In value terms, molybdenum ore production expanded significantly to $X in 2021 estimated in export price. In general, production recorded a slight curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 54%. Molybdenum ore production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Molybdenum Ore Exports

Exports from Peru

In 2021, shipments abroad of molybdenum ores decreased by -3.5% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 41% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then shrank slightly in the following year.

In value terms, molybdenum ore exports soared to $X in 2021. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2018 when exports increased by 66%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Chile (X tons), the United States (X tons) and China (X tons) were the main destinations of molybdenum ore exports from Peru, together accounting for 87% of total exports. The Netherlands and South Korea lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +71.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for molybdenum ore exported from Peru were Chile ($X), the United States ($X) and China ($X), with a combined 87% share of total exports. These countries were followed by the Netherlands and South Korea, which together accounted for a further 12%.

South Korea, with a CAGR of +82.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average molybdenum ore export price amounted to $X per ton, picking up by 64% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were the Netherlands ($X per ton) and Chile ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Molybdenum Ore Imports

Imports into Peru

In 2021, approx. X tons of molybdenum ores were imported into Peru; waning by -3.4% on 2020. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 167% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, molybdenum ore imports soared to $X in 2021. In general, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 186%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Belgium (X tons), Chile (X tons) and the United States (X tons) were the main suppliers of molybdenum ore imports to Peru, with a combined 83% share of total imports. These countries were followed by India and China, which together accounted for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +53.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest molybdenum ore suppliers to Peru were Chile ($X), Belgium ($X) and the United States ($X), together comprising 84% of total imports. These countries were followed by India and China, which together accounted for a further 16%.

Among the main suppliers, India, with a CAGR of +47.8%, recorded the highest rates of growth with regard to 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

In 2021, the average molybdenum ore import price amounted to $X per ton, picking up by 58% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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