South Africa: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in South Africa

In 2021, the South African zinc ores and concentrates market decreased by -90.2% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption recorded a significant decline. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Zinc Ores And Concentrates in South Africa

In value terms, zinc ores and concentrates production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports from South Africa

For the third consecutive year, South Africa recorded growth in overseas shipments of zinc ores and concentrates, which increased by 39% to X tons in 2021. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 453%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, zinc ores and concentrates exports soared to $X in 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 263% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) was the main destination for zinc ores and concentrates exports from South Africa, with a 90% share of total exports. Moreover, zinc ores and concentrates exports to China exceeded the volume sent to the second major destination, South Korea (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +38.7%.

In value terms, China ($X) remains the key foreign market for zinc ores and concentrates exports from South Africa, comprising 91% of total exports. The second position in the ranking was taken by South Korea ($X), with an 8.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +45.8%.

Export Prices by Country

The average zinc ores and concentrates export price stood at $X per ton in 2021, rising by 63% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to South Korea amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.1%).

Imports of Zinc Ores And Concentrates

Imports into South Africa

In 2021, after two years of decline, there was significant growth in overseas purchases of zinc ores and concentrates, when their volume increased by 358% to X tons. Over the period under review, imports, however, continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2018 with an increase of 1,404% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, zinc ores and concentrates imports contracted to $X in 2021. In general, imports, however, continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2018 with an increase of 1,868% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Zambia (X tons) constituted the largest supplier of zinc ores and concentrates to South Africa, accounting for a 86% share of total imports. Moreover, zinc ores and concentrates imports from Zambia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold. Ireland (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Zambia stood at +37.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-0.0% per year) and Ireland (0.0% per year).

In value terms, the largest zinc ores and concentrates suppliers to South Africa were Thailand ($X), Zambia ($X) and Ireland ($X), together comprising 99% of total imports.

Zambia, with a CAGR of +32.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, falling by -80.1% against the previous year. Over the period under review, the import price saw a abrupt decline. The pace of growth was the most pronounced in 2018 when the average import price increased by 31%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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