Russian Federation: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in the Russian Federation

The Russian zinc ores and concentrates market dropped markedly to $X in 2021, declining by -25% against the previous year. Over the period under review, consumption recorded a abrupt setback. Zinc ores and concentrates consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Zinc Ores And Concentrates in the Russian Federation

In value terms, zinc ores and concentrates production soared to $X in 2021 estimated in export price. In general, production posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 82%. 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 the Russian Federation

In 2021, the amount of zinc ores and concentrates exported from Russia expanded remarkably to X tons, picking up by 14% on the previous year's figure. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 138%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, zinc ores and concentrates exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 109% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for zinc ores and concentrates exports from Russia, with a 69% share of total exports. Moreover, zinc ores and concentrates exports to China exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+20.3% per year) and South Korea (+7.2% per year).

In value terms, the largest markets for zinc ores and concentrates exported from Russia were China ($X), Kazakhstan ($X) and South Korea ($X), with a combined 97% share of total exports.

China, with a CAGR of +33.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average zinc ores and concentrates export price amounted to $X per ton, increasing by 62% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to South Korea ($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 China (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Zinc Ores And Concentrates

Imports into the Russian Federation

In 2021, approx. X tons of zinc ores and concentrates were imported into Russia; declining by -28.3% compared with the year before. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 191%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, zinc ores and concentrates imports expanded rapidly to $X in 2021. In general, imports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2020 with an increase of 188%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Kazakhstan (X tons) was the main zinc ores and concentrates supplier to Russia, accounting for a 99% share of total imports. It was followed by Turkey (X tons), with a 0.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Kazakhstan stood at -5.4%.

In value terms, Kazakhstan ($X) constituted the largest supplier of zinc ores and concentrates to Russia, comprising 99% of total imports. The second position in the ranking was taken by Turkey ($X), with a 0.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Kazakhstan stood at +4.0%.

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, with an increase of 58% against the previous year. Overall, the import price enjoyed a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Kazakhstan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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