Singapore: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Singapore

In 2021, after three years of decline, there was significant growth in the Singaporean zinc ores and concentrates market, when its value increased by 96% to $X. Over the period under review, consumption, however, continues to indicate a perceptible curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Zinc Ores And Concentrates in Singapore

In value terms, zinc ores and concentrates production fell to $X in 2021 estimated in export price. Overall, production, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2020 with an increase of 21%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports from Singapore

In 2021, after two years of growth, there was significant decline in shipments abroad of zinc ores and concentrates, when their volume decreased by -88% to X tons. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 549%. The exports peaked at X tons in 2020, and then contracted sharply in the following year.

In value terms, zinc ores and concentrates exports shrank markedly to $X in 2021. Overall, exports faced a dramatic slump. The most prominent rate of growth was recorded in 2019 with an increase of 399%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for zinc ores and concentrates exports from Singapore, accounting for a 81% share of total exports. Moreover, zinc ores and concentrates exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, the United States (X tons), tenfold. The third position in this ranking was held by India (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) amounted to -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+50.6% per year) and India (+52.6% per year).

In value terms, the largest markets for zinc ores and concentrates exported from Singapore were the United States ($X), Taiwan (Chinese) ($X) and India ($X), together comprising 89% of total exports.

The United States, with a CAGR of +64.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average zinc ores and concentrates export price stood at $X per ton in 2021, surging by 14% against the previous year. Overall, the export price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 an increase of 28% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea ($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 the United States (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Zinc Ores And Concentrates

Imports into Singapore

For the ninth consecutive year, Singapore recorded decline in purchases abroad of zinc ores and concentrates, which decreased by -36.2% to X tons in 2021. In general, imports recorded a sharp reduction. The smallest decline of -12.1% was in 2013. Over the period under review, imports hit record highs at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, zinc ores and concentrates imports contracted to $X in 2021. Overall, imports showed a sharp curtailment. The smallest decline of -4.9% was in 2013. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Mexico (X kg), Peru (X kg) and Turkey (X kg) were the main suppliers of zinc ores and concentrates imports to Singapore, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were in Mexico (with a CAGR of -22.8%), while purchases for the other leaders experienced a decline.

In value terms, Mexico ($X) constituted the largest supplier of zinc ores and concentrates to Singapore, comprising 71% of total imports. The second position in the ranking was held by Peru ($X), with a 26% share of total imports. It was followed by Turkey, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from Mexico amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-40.3% per year) and Turkey (-37.0% per year).

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, rising by 39% against the previous year. Overall, the import price posted significant growth. The most prominent rate of growth was recorded in 2020 an increase of 162% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+50.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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