Mexico: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Mexico

The Mexican zinc ores and concentrates market surged to $X in 2021, jumping by 217% against the previous year. In general, consumption continues to indicate significant growth. Zinc ores and concentrates consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Production of Zinc Ores And Concentrates in Mexico

In value terms, zinc ores and concentrates production rose notably to $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.4% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Zinc Ores And Concentrates

Exports from Mexico

In 2021, approx. X tons of zinc ores and concentrates were exported from Mexico; waning by -70.2% against 2020. Overall, exports saw a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 94% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, zinc ores and concentrates exports fell notably to $X in 2021. Over the period under review, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of 81% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), South Korea (X tons) and Switzerland (X tons) were the main destinations of zinc ores and concentrates exports from Mexico, with a combined 81% share of total exports.

From 2012 to 2021, the biggest increases were in Switzerland (with a CAGR of +24.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for zinc ores and concentrates exported from Mexico were South Korea ($X), Belgium ($X) and Switzerland ($X), with a combined 83% share of total exports.

Switzerland, with a CAGR of +39.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average zinc ores and concentrates export price amounted to $X per ton, increasing by 44% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Zinc Ores And Concentrates

Imports into Mexico

In 2021, purchases abroad of zinc ores and concentrates decreased by -5.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 374%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, zinc ores and concentrates imports shrank notably to $X in 2021. Overall, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 165%. Imports peaked at $X in 2020, and then shrank rapidly in the following year.

Imports by Country

In 2021, South Korea (X tons) was the main zinc ores and concentrates supplier to Mexico, accounting for a 99.9% share of total imports. It was followed by the United States (X kg), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +339.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.1% per year) and Canada (-64.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of zinc ores and concentrates to Mexico, comprising 99.9% of total imports. The second position in the ranking was taken by Canada ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from South Korea stood at +222.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-57.5% per year) and the United States (-16.0% per year).

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, dropping by -33.9% against the previous year. Overall, the import price showed a mild shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 95%. As a result, import price attained the peak level of $X per ton, and then dropped markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Canada ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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