New Zealand: Zinc Market 2024

Zinc Market Size in New Zealand

In 2021, the New Zealand zinc market increased by 47% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Zinc Exports

Exports from New Zealand

In 2021, overseas shipments of zinc decreased by -65.4% to X kg, falling for the third consecutive year after two years of growth. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 9,106%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, zinc exports reduced rapidly to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 14,368%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cook Islands (X kg) was the main destination for zinc exports from New Zealand, accounting for a 105% share of total exports. Moreover, zinc exports to Cook Islands exceeded the volume sent to the second major destination, Tonga (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cook Islands totaled +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tonga (+46.2% per year) and Vanuatu (-13.5% per year).

In value terms, Cook Islands ($X) emerged as the key foreign market for zinc exports from New Zealand, comprising 99% of total exports. The second position in the ranking was held by Tonga ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Cook Islands amounted to +66.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tonga (+30.4% per year) and Vanuatu (+10.5% per year).

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, picking up by 31% against the previous year. In general, the export price showed prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 403% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Vanuatu ($X per ton), while the average price for exports to Tonga ($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 Papua New Guinea (+95.4%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into New Zealand

In 2021, supplies from abroad of zinc was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, zinc imports skyrocketed to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Australia (X tons) constituted the largest supplier of zinc to New Zealand, accounting for a 82% share of total imports. Moreover, zinc imports from Australia exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume from Australia amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.1% per year) and South Korea (+16.6% per year).

In value terms, Australia ($X) constituted the largest supplier of zinc to New Zealand, comprising 82% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.8% per year) and South Korea (+20.7% per year).

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, jumping by 31% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 40%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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