Hungary: Zinc Market 2024

Zinc Market Size in Hungary

The Hungarian zinc market contracted significantly to $X in 2022, which is down by -16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2021, and then dropped markedly in the following year.

Zinc Exports

Exports from Hungary

In 2021, shipments abroad of zinc, unwrought (not alloyed) decreased by -86% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 823,878% against the previous year. The exports peaked at X tons in 2020, and then dropped remarkably in the following year.

In value terms, zinc exports dropped significantly to $X in 2021. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 829,183% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then dropped markedly in the following year.

Exports by Country

Slovakia (X tons) was the main destination for zinc exports from Hungary, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Slovakia totaled +60.5%.

In value terms, Slovakia ($X) also remains the key foreign market for zinc, unwrought (not alloyed) exports from Hungary.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovakia amounted to +75.2%.

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, surging by 12% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc export price increased by +109.0% against 2016 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 53%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Slovakia.

From 2012 to 2021, the rate of growth in terms of prices for Slovakia amounted to +9.2% per year.

Zinc Imports

Imports into Hungary

In 2022, supplies from abroad of zinc, unwrought (not alloyed) decreased by -26.6% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 32%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, zinc imports contracted to $X in 2022. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 73%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of zinc to Hungary, with a 52% share of total imports. Moreover, zinc imports from Austria exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Malta (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-1.6% per year) and Malta (+141.0% per year).

In value terms, Austria ($X), Poland ($X) and Malta ($X) constituted the largest zinc suppliers to Hungary, with a combined 85% share of total imports.

In terms of the main suppliers, Malta, with a CAGR of +182.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average zinc import price stood at $X per ton in 2022, surging by 16% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.3% 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 +46.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 31%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Slovakia ($X per ton) and the Czech Republic ($X per ton), while the price for Austria ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malta (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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