United Kingdom: Ferro-Molybdenum Market 2024

Ferro-Molybdenum Market Size in the UK

In 2022, the UK ferro-molybdenum market decreased by -52.6% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, enjoyed temperate growth. Ferro-molybdenum consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Ferro-Molybdenum Production in the UK

In value terms, ferro-molybdenum production fell to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ferro-Molybdenum Exports

Exports from the UK

In 2022, overseas shipments of ferro-molybdenum increased by 27% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ferro-molybdenum exports surged to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 135%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for ferro-molybdenum exports from the UK, accounting for a 28% share of total exports. Moreover, ferro-molybdenum exports to the Netherlands exceeded the volume sent to the second major destination, Spain (X tons), threefold. Sweden (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands totaled +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-12.1% per year) and Sweden (-12.5% per year).

In value terms, the Netherlands ($X) remains the key foreign market for ferro-molybdenum exports from the UK, comprising 28% of total exports. The second position in the ranking was held by Spain ($X), with a 9.8% share of total exports. It was followed by Sweden, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-3.1% per year) and Sweden (-12.2% per year).

Export Prices by Country

In 2022, the average ferro-molybdenum export price amounted to $X per ton, leveling off at the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-molybdenum export price increased by +57.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 57%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Argentina ($X per ton) and Germany ($X per ton), while the average price for exports to Poland ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Molybdenum Imports

Imports into the UK

In 2022, supplies from abroad of ferro-molybdenum increased by 129% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 183%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, ferro-molybdenum imports skyrocketed to $X in 2022. Overall, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X tons), Armenia (X tons) and South Korea (X tons) were the main suppliers of ferro-molybdenum imports to the UK, with a combined 77% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +129.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), South Korea ($X) and Armenia ($X) were the largest ferro-molybdenum suppliers to the UK, together accounting for 81% of total imports.

South Korea, with a CAGR of +182.3%, saw the highest growth rate of the value of imports, among 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 2022, the average ferro-molybdenum import price amounted to $X per ton, with an increase of 60% against the previous year. Overall, the import price posted prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :