Mexico: Zinc Market 2024

Zinc Market Size in Mexico

For the third consecutive year, the Mexican zinc market recorded growth in sales value, which increased by 4.6% to $X in 2021. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value 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, consumption increased by +9.1% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Zinc Production in Mexico

In value terms, zinc production fell modestly to $X in 2021 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Zinc Exports

Exports from Mexico

In 2021, overseas shipments of zinc decreased by -11.2% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 53% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, zinc exports contracted to $X in 2021. Overall, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for zinc exports from Mexico, with a 166% share of total exports. Moreover, zinc exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +6.2%.

In value terms, the United States ($X) remains the key foreign market for zinc exports from Mexico, comprising 93% of total exports. The second position in the ranking was held by Brazil ($X), with a 6.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +3.6%.

Export Prices by Country

The average zinc export price stood at $X per ton in 2021, shrinking by -3.6% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc export price decreased by -16.4% against 2017 indices. The growth pace was the most rapid in 2017 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Brazil totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.2%), while the prices for the other major destinations experienced a decline.

Zinc Imports

Imports into Mexico

In 2021, supplies from abroad of zinc was finally on the rise to reach X tons after two years of decline. Over the period under review, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, zinc imports soared to $X in 2021. In general, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons) and Canada (X tons) were the main suppliers of zinc imports to Mexico.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +26.3%).

In value terms, the United States ($X) and Canada ($X) appeared to be the largest zinc suppliers to Mexico.

Canada, with a CAGR of +32.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the last nine-year period, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2013 an increase of 28% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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