South Africa: Pyrites Market 2024

Pyrites Market Size in South Africa

In 2022, the South African pyrites market decreased by -89.8% to $X, falling for the second consecutive year after three years of growth. In general, consumption faced a deep reduction. Pyrites consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pyrites Exports

Exports from South Africa

In 2022, exports of pyrites from South Africa soared to X tons, jumping by 806% compared with the year before. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pyrites exports dropped to $X in 2022. In general, exports continue to indicate a moderate increase. The pace of growth was the most pronounced in 2017 with an increase of 133% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for pyrites exports from South Africa, accounting for a 44% share of total exports. Moreover, pyrites exports to Brazil exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 20% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil stood at +42.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+9.8% per year) and the United States (+100.0% per year).

In value terms, Brazil ($X) emerged as the key foreign market for pyrites exports from South Africa, comprising 54% of total exports. The second position in the ranking was held by the United States ($X), with a 23% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+64.0% per year) and Saudi Arabia (-17.5% per year).

Export Prices by Country

The average pyrites export price stood at $X per ton in 2022, declining by -89.7% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 51%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+146.4%), while the prices for the other major destinations experienced a decline.

Pyrites Imports

Imports into South Africa

In 2022, purchases abroad of pyrites decreased by -29.8% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, saw a moderate increase. The pace of growth appeared the most rapid in 2018 when imports increased by 179%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, pyrites imports skyrocketed to $X in 2022. In general, imports, however, recorded resilient growth. The growth pace was the most rapid in 2018 with an increase of 95%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Italy (X tons) constituted the largest pyrites supplier to South Africa, accounting for a 53% share of total imports. Moreover, pyrites imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.2% per year) and India (-8.6% per year).

In value terms, Italy ($X) constituted the largest supplier of pyrites to South Africa, comprising 54% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by India, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.9% per year) and India (+3.9% per year).

Import Prices by Country

The average pyrites import price stood at $X per ton in 2022, jumping by 88% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pyrites import price increased by +88.0% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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