Singapore: Lead Ore Market 2022

Lead Ore Market Size in Singapore

In 2021, after three years of growth, there was significant decline in the Singaporean lead ore market, when its value decreased by -6.8% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Lead ore consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Lead Ore Production in Singapore

In value terms, lead ore production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Lead Ore Exports

Exports from Singapore

In 2021, after five years of decline, there was significant growth in overseas shipments of lead ores, when their volume increased by 87% to X tons. Overall, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of 1,538%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, lead ore exports soared to $X in 2021. In general, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 1,210%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for lead ore exports from Singapore, accounting for a 58% share of total exports. Moreover, lead ore exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, India (X tons), fivefold. The third position in this ranking was taken by South Korea (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-25.8% per year) and South Korea (0.0% per year).

In value terms, South Korea ($X), the Netherlands ($X) and India ($X) appeared to be the largest markets for lead ore exported from Singapore worldwide, with a combined 86% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +36.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lead ore export price stood at $X per ton in 2021, growing by 17% against the previous year. In general, the export price, however, saw a mild decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Thailand (+29.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lead Ore Imports

Imports into Singapore

In 2021, purchases abroad of lead ores decreased by -32.7% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 83%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, lead ore imports fell sharply to $X in 2021. Overall, imports continue to indicate a pronounced decline. The growth pace was the most rapid in 2020 when imports increased by 50% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Myanmar (X tons) and Bolivia (X tons) were the main suppliers of lead ore imports to Singapore, together comprising 91% of total imports. South Korea and Malaysia lagged somewhat behind, together comprising a further 8.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +34.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X) constituted the largest supplier of lead ore to Singapore, comprising 58% of total imports. The second position in the ranking was taken by Bolivia ($X), with a 16% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Myanmar stood at +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (-2.9% per year) and China (+25.2% per year).

Import Prices by Country

The average lead ore import price stood at $X per ton in 2021, surging by 24% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lead ore import price increased by +51.0% against 2018 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 69% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Myanmar ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+25.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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