Singapore: Mercury Market 2024

Mercury Market Size in Singapore

The Singaporean mercury market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, saw a noticeable curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Mercury Production in Singapore

In value terms, mercury production totaled $X in 2021 estimated in export price. In general, production, however, showed a slight reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Mercury Exports

Exports from Singapore

In 2021, shipments abroad of mercuries increased by 4.3% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when exports increased by 1,744% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, mercury exports amounted to $X in 2021. Overall, exports, however, faced a significant curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 3,364% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Myanmar (X kg), Ghana (X kg) and Colombia (X kg) were the main destinations of mercury exports from Singapore, together accounting for 67% of total exports. These countries were followed by Togo, Indonesia, Guyana, Vietnam, the United Arab Emirates and India, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +65.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mercury exported from Singapore were Vietnam ($X), Togo ($X) and the United Arab Emirates ($X), with a combined 54% share of total exports.

Vietnam, with a CAGR of +36.6%, 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 mercury export price amounted to $X per ton, dropping by -2.7% against the previous year. Overall, the export price recorded a abrupt decline. The pace of growth was the most pronounced in 2013 when the average export price increased by 88% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Myanmar ($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 the United Arab Emirates (+17.5%), while the prices for the other major destinations experienced mixed trend patterns.

Mercury Imports

Imports into Singapore

In 2021, overseas purchases of mercuries increased by 2.4% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, saw a sharp decline. The most prominent rate of growth was recorded in 2013 when imports increased by 12% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, mercury imports fell slightly to $X in 2021. Overall, imports, however, saw a sharp downturn. The pace of growth was the most pronounced in 2013 with an increase of 11% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Thailand (X kg), Indonesia (X kg) and Mexico (X kg) were the main suppliers of mercury imports to Singapore, together comprising 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of -11.5%), while imports for the other leaders experienced a decline.

In value terms, Mexico ($X) constituted the largest supplier of mercuries to Singapore, comprising 37% of total imports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total imports. It was followed by Indonesia, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled -23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-26.1% per year) and Indonesia (-22.0% per year).

Import Prices by Country

The average mercury import price stood at $X per ton in 2021, declining by -4.2% against the previous year. Over the period under review, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2019 an increase of 23% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+21.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :