Canada: Zinc Market 2024

Zinc Market Size in Canada

In 2022, the Canadian zinc market increased by 9.4% to $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -28.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Zinc Production in Canada

In value terms, zinc production expanded remarkably to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year. Zinc production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Zinc Exports

Exports from Canada

After two years of growth, overseas shipments of zinc, unwrought (not alloyed) decreased by -21.3% to X tons in 2022. In general, exports continue to indicate a slight decrease. The growth pace was the most rapid in 2020 with an increase of 642%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, zinc exports declined to $X in 2022. Overall, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.9% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by 33%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for zinc exports from Canada, accounting for a 96% share of total exports. It was followed by Taiwan (Chinese) (X tons), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -1.5%.

In value terms, the United States ($X) remains the key foreign market for zinc, unwrought (not alloyed) exports from Canada, comprising 97% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.2%.

Export Prices by Country

In 2022, the average zinc export price amounted to $X per ton, growing by 19% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 531%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.8%).

Zinc Imports

Imports into Canada

In 2022, supplies from abroad of zinc, unwrought (not alloyed) decreased by -6.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a tangible increase. The pace of growth appeared the most rapid in 2016 when imports increased by 192%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, zinc imports contracted to $X in 2022. Overall, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 289% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main zinc supplier to Canada, with a 95% share of total imports. It was followed by South Korea (X tons), with a 1.7% share of total imports. Germany (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (0.0% per year) and Germany (+7.4% per year).

In value terms, the United States ($X) constituted the largest supplier of zinc, unwrought (not alloyed) to Canada, comprising 95% of total imports. The second position in the ranking was taken by South Korea ($X), with a 1.8% share of total imports. It was followed by Peru, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (0.0% per year) and Peru (+24.0% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2022, with an increase of 4.5% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +33.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 45% against the previous year. The import price peaked in 2022 and is expected to retain 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 South Korea ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+17.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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