Singapore: Molybdenum Market 2024

Molybdenum Market Size in Singapore

The Singaporean molybdenum market expanded to $X in 2022, picking up by 4.5% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -18.3% against 2020 indices. Molybdenum consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Molybdenum Production in Singapore

In value terms, molybdenum production amounted to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.9% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Molybdenum Exports

Exports from Singapore

In 2022, approx. X kg of molybdenum were exported from Singapore; with a decrease of -97.7% against the previous year. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 8,245%. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, molybdenum exports fell significantly to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2017 with an increase of 3,300% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Malaysia (X kg) was the main destination for molybdenum exports from Singapore, with a 69% share of total exports. Moreover, molybdenum exports to Malaysia exceeded the volume sent to the second major destination, India (X kg), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X kg), with a 2.5% share.

From 2014 to 2022, the average annual growth rate of volume to Malaysia totaled +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+67.8% per year) and Taiwan (Chinese) (0.0% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for molybdenum exports from Singapore, comprising 66% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total exports. It was followed by the UK, with a 9.7% share.

From 2014 to 2022, the average annual growth rate of value to Malaysia amounted to +70.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (0.0% per year) and the UK (-16.9% per year).

Export Prices by Country

In 2022, the average molybdenum export price amounted to $X per ton, increasing by 339% against the previous year. In general, the export price continues to indicate a prominent increase. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+111.3%), while the prices for the other major destinations experienced more modest paces of growth.

Molybdenum Imports

Imports into Singapore

In 2022, after three years of growth, there was significant decline in supplies from abroad of molybdenum, when their volume decreased by -99.5% to X kg. Over the period under review, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2014 when imports increased by 672% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, molybdenum imports dropped dramatically to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 774%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank notably in the following year.

Imports by Country

In 2022, China (X kg) was the main supplier of molybdenum to Singapore, with a 98% share of total imports. It was followed by Italy (X kg), with a 2.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -8.5%.

In value terms, China ($X) constituted the largest supplier of molybdenum to Singapore, comprising 77% of total imports. The second position in the ranking was taken by Italy ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -16.3%.

Import Prices by Country

In 2022, the average molybdenum import price amounted to $X per ton, shrinking by -11.6% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The growth pace was the most rapid in 2013 when the average import price increased by 49%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.5%).

Source: IndexBox Platform

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