Morocco: Lead Ore Market 2022

Lead Ore Market Size in Morocco

In 2021, after two years of growth, there was significant decline in the Moroccan lead ore market, when its value decreased by -27.3% to $X. In general, consumption continues to indicate a abrupt setback. 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.

Lead Ore Production in Morocco

In value terms, lead ore production rose sharply to $X in 2021 estimated in export price. Overall, production, however, faced a abrupt curtailment. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Lead Ore Exports

Exports from Morocco

In 2021, after two years of decline, there was significant growth in shipments abroad of lead ores, when their volume increased by 5.2% to X tons. Overall, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.4% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by 21%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, lead ore exports soared to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 28%. 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

China (X tons), Germany (X tons) and South Korea (X tons) were the main destinations of lead ore exports from Morocco, together accounting for 73% of total exports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +25.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lead ore exported from Morocco were Germany ($X), Italy ($X) and China ($X), together comprising 76% of total exports. South Korea, the Netherlands and Belgium lagged somewhat behind, together accounting for a further 22%.

The Netherlands, with a CAGR of +20.4%, saw 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

In 2021, the average lead ore export price amounted to $X per ton, surging by 13% against the previous year. In general, the export price, however, showed a pronounced setback. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to China ($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 Netherlands (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lead Ore Imports

Imports into Morocco

For the ninth year in a row, Morocco recorded decline in supplies from abroad of lead ores, which decreased by -8.5% to X tons in 2021. Over the period under review, imports saw a abrupt downturn. The smallest decline of -8.5% was in 2020. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, lead ore imports shrank to $X in 2021. In general, imports continue to indicate a noticeable descent. The smallest decline of -3% was in 2019. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of lead ore to Morocco, with a 66% share of total imports. Moreover, lead ore imports from Turkey exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-10.6% per year) and India (-45.1% per year).

In value terms, the largest lead ore suppliers to Morocco were Peru ($X), Turkey ($X) and India ($X), with a combined 100% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +6.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average lead ore import price amounted to $X per ton, surging by 6% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lead ore import price increased by +68.7% against 2012 indices. The growth pace was the most rapid in 2019 when the average import price increased by 6% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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