New Zealand: Tin Bar Market 2024

Tin Bar Market Size in New Zealand

In 2022, the New Zealand tin bar market decreased by -28.3% to $X, falling for the third consecutive year after two years of growth. Overall, consumption showed a deep contraction. Tin bar consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Tin Bar Exports

Exports from New Zealand

In 2022, shipments abroad of tin bars, rods, profiles and wires increased by 405% to X tons, rising for the third consecutive year after two years of decline. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 579% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, tin bar exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,755% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for tin bar exports from New Zealand, with a 92% share of total exports. It was followed by Fiji (X kg), with a 3% share of total exports. Vanuatu (X kg) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+25.5% per year) and Vanuatu (+1.5% per year).

In value terms, Australia ($X) remains the key foreign market for tin bars, rods, profiles and wires exports from New Zealand, comprising 82% of total exports. The second position in the ranking was taken by Fiji ($X), with an 11% share of total exports. It was followed by Vanuatu, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+30.2% per year) and Vanuatu (+38.8% per year).

Export Prices by Country

The average tin bar export price stood at $X per ton in 2022, rising by 10% against the previous year. Over the period under review, the export price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2019 an increase of 457%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vanuatu (+36.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Bar Imports

Imports into New Zealand

In 2022, overseas purchases of tin bars, rods, profiles and wires decreased by -21% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports showed a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of 156%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, tin bar imports fell notably to $X in 2022. Overall, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2015 when imports increased by 127% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of tin bar to New Zealand, with a 77% share of total imports. Moreover, tin bar imports from Australia exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume from Australia amounted to -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-9.7% per year) and Germany (+0.0% per year).

In value terms, Australia ($X) constituted the largest supplier of tin bars, rods, profiles and wires to New Zealand, comprising 62% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 19% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.7% per year) and Germany (-11.5% per year).

Import Prices by Country

In 2022, the average tin bar import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar import price increased by +55.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 34%. The import price peaked at $X per ton in 2021, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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