Singapore: Zinc Market 2025

Zinc Market Size in Singapore

In 2021, the Singaporean zinc market decreased by -2.9% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Zinc Production in Singapore

In value terms, zinc production totaled $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22%. Zinc production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports from Singapore

In 2021, overseas shipments of zinc increased by 103% to X tons, rising for the second year in a row after three years of decline. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,237%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, zinc exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 1,079% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X tons), Bangladesh (X tons) and Vietnam (X tons) were the main destinations of zinc exports from Singapore, together comprising 57% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +136.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Bangladesh ($X) and Taiwan (Chinese) ($X) were the largest markets for zinc exported from Singapore worldwide, together accounting for 63% of total exports. These countries were followed by Vietnam, Malaysia, Thailand, China and India, which together accounted for a further 35%.

Among the main countries of destination, Vietnam, with a CAGR of +129.0%, saw the highest rates of growth with regard to 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

In 2021, the average zinc export price amounted to $X per ton, growing by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 41%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, 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 India ($X per ton), while the average price for exports to China ($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 India (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Singapore

After two years of growth, purchases abroad of zinc decreased by -30.8% to X tons in 2021. In general, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 431%. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, zinc imports dropped to $X in 2021. Over the period under review, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 335% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of zinc to Singapore, with a 68% share of total imports. Moreover, zinc imports from India exceeded the figures recorded by the second-largest supplier, Namibia (X tons), fivefold. The third position in this ranking was taken by Australia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +46.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Namibia (+32.5% per year) and Australia (+10.4% per year).

In value terms, India ($X) constituted the largest supplier of zinc to Singapore, comprising 63% of total imports. The second position in the ranking was held by Namibia ($X), with a 13% share of total imports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +50.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Namibia (+35.9% per year) and Australia (+14.0% per year).

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, rising by 30% against the previous year. Overall, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Spain ($X per ton) and South Korea ($X per ton), while the price for Namibia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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