United Kingdom: Molybdenum Market 2024

Molybdenum Market Size in the UK

In 2022, the UK molybdenum market increased by 118% to $X, rising for the second year in a row after three years of decline. Overall, consumption enjoyed a buoyant expansion. Molybdenum consumption peaked in 2022 and is expected to retain growth in the immediate term.

Molybdenum Production in the UK

In value terms, molybdenum production surged to $X in 2022 estimated in export price. Overall, production showed a significant increase. Molybdenum production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Molybdenum Exports

Exports from the UK

In 2022, shipments abroad of molybdenum decreased by -21.6% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 981% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, molybdenum exports fell to $X in 2022. Overall, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 560% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Austria (X tons) and Luxembourg (X tons) were the main destinations of molybdenum exports from the UK, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +111.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for molybdenum exported from the UK were Australia ($X), Austria ($X) and Luxembourg ($X), with a combined 86% share of total exports.

Among the main countries of destination, Australia, with a CAGR of +96.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average molybdenum export price stood at $X per ton in 2022, rising by 20% against the previous year. Over the period under review, the export price, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 111%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and Austria ($X per ton), while the average price for exports to Japan ($X per ton) and Luxembourg ($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 Austria (+0.7%), while the prices for the other major destinations experienced a decline.

Molybdenum Imports

Imports into the UK

In 2022, molybdenum imports into the UK soared to X tons, jumping by 36% on the previous year's figure. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 119% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, molybdenum imports soared to $X in 2022. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 196%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of molybdenum to the UK, with a 84% share of total imports. Moreover, molybdenum imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (0.0% per year) and Germany (+7.9% per year).

In value terms, China ($X) constituted the largest supplier of molybdenum to the UK, comprising 83% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.2% share of total imports. It was followed by Hong Kong SAR, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.2% per year) and Hong Kong SAR (0.0% per year).

Import Prices by Country

The average molybdenum import price stood at $X per ton in 2022, rising by 31% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for Hong Kong SAR ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :