Magnesite market in Russia

Earlier Report Observations

From 2018 to 2019, the Russian magnesite market remained stable at around 2.6 million tons, supported by steady domestic production and growing interest in global trade. A sharp turn came in 2020 when market volume jumped to 2.75 million tons, driven by supply‑chain disruptions caused by the COVID‑19 pandemic that triggered a surge in imports. The market then contracted over the following two years, falling to 2.60 million tons by 2022, first due to shifts in trade policy and logistics that curtailed import flows, and later as international sanctions further restricted access to foreign material.

In 2023, rising demand from agriculture and environmental technologies spurred production and led to the commissioning of new capacity. By 2024, however, output eased by 2.3% to 880 thousand tons, reflecting pressure from higher global raw‑material prices and persistent logistical challenges, even as government support for key consuming industries helped maintain market stability.

Production magnesite in Russia

In kind, 2017-2020, K t

From 2017 to 2020, Russia held the third position globally in magnesite production.

Top producers of magnesite, 2017-2020

World map of production of magnesite, 2017-2020

In 2020, Russia produced 2,600 K t of magnesite, showing little change from the previous year. The most significant decline occurred in 2018, at 0.0%, while the largest increase was also recorded in 2018, at 0.0%.

Annual dynamics of production in Russia in kind, 2017-2020, K t

Exports magnesite from Russia

Exports in kind, K t

The market displayed considerable volatility during this period. Export volumes reached their lowest point in 2020 and peaked in 2018, with a 55-fold difference between these years. In 2020, Russia exported 0.7 K t of magnesite, marking a 97.9% decrease from the prior year. The maximum value was 37.5 K t in 2018, which also saw the largest increase of 128.6%.

Annual dynamics of product's exports from Russia in kind, 2017-2020, K t

Between 2017 and 2020, Russia's magnesite exports in kind were almost entirely directed to China, which accounted for 90.4% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Russia in kind, 2017-2020

Exports in value, K $ US

Noticeable fluctuations characterized the market's performance over these years. The highest export value was noted in 2018, while the lowest occurred in 2020, with a peak-to-trough ratio of 48 times. In 2020, Russia's magnesite exports totaled 155 K $ US, down by 97.3% from the previous year. The maximum value was recorded in 2018 at 7,432 K $ US, which also experienced the largest increase of 130.6%.

Annual dynamics of product's exports from Russia in value, 2017-2020, K $ US

From 2017 to 2020, China was the dominant destination for Russia's magnesite exports in value terms, making up 89.9% of total flows, with the remainder distributed among several smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Russia in value, 2017-2020

Imports magnesite to Russia

Imports in kind, K t

The market trend was unstable throughout the timeframe. Import volumes varied 3.5 times, from a low in 2019 to a high in 2020. In 2020, magnesite shipments to Russia from abroad reached 154.6 K t, reflecting a sharp increase of 253.6% from a year earlier. The minimum value was 43.7 K t in 2019, while the largest decline of 35.8% was recorded in 2018.

Annual dynamics of product's imports to Russia in kind, 2017-2020, K t

Over 2017–2020, imports in kind of magnesite to Russia were almost completely tied to Finland, which accounted for 99.6% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Russia in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Imports changed by 3.2 times, from a trough in 2018 to a peak in 2020. In 2020, foreign magnesite supplies to Russia amounted to 3,654 K $ US, reflecting an uptick of 197.4% compared to the previous year. The minimum value was 1,128 K $ US in 2018, which also saw the largest decline of 27.6%.

Annual dynamics of product's imports to Russia in value, 2017-2020, K $ US

Throughout 2017–2020, imports in value terms remained heavily focused on Finland, which accounted for 92.6% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Russia in value, 2017-2020