Vietnam: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Vietnam

The Vietnamese zinc ores and concentrates market surged to $X in 2021, jumping by 71% against the previous year. In general, consumption, however, showed a dramatic descent. Zinc ores and concentrates consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Zinc Ores And Concentrates in Vietnam

In value terms, zinc ores and concentrates production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 25%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports from Vietnam

In 2021, approx. X tons of zinc ores and concentrates were exported from Vietnam; leveling off at 2020 figures. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 106% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, zinc ores and concentrates exports soared to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 107% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for zinc ores and concentrates exports from Vietnam, with a 92% 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), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +23.3%.

In value terms, China ($X) remains the key foreign market for zinc ores and concentrates exports from Vietnam, comprising 92% of total exports. The second position in the ranking was taken by South Korea ($X), with a 7.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +29.5%.

Export Prices by Country

In 2021, the average zinc ores and concentrates export price amounted to $X per ton, surging by 25% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc ores and concentrates export price increased by +30.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

Zinc ores and concentrates imports into Vietnam soared to X tons in 2021, rising by 189% against the previous year's figure. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 567%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, zinc ores and concentrates imports soared to $X in 2021. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 583% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Lao People's Democratic Republic (X tons) constituted the largest zinc ores and concentrates supplier to Vietnam, accounting for a 56% share of total imports. Moreover, zinc ores and concentrates imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Lao People's Democratic Republic amounted to +147.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+53.3% per year) and South Korea (+22.9% per year).

In value terms, Lao People's Democratic Republic ($X) constituted the largest supplier of zinc ores and concentrates to Vietnam, comprising 71% of total imports. The second position in the ranking was held by Japan ($X), with a 21% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Lao People's Democratic Republic totaled +158.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+58.0% per year) and China (+9.5% per year).

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, increasing by 24% against the previous year. Overall, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc ores and concentrates import price decreased by -22.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Lao People's Democratic Republic ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+82.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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