Portugal: Zinc Market 2024

Zinc Market Size in Portugal

The Portuguese zinc market expanded modestly to $X in 2021, rising by 2.5% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +11.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by +0.1% against 2018 indices. Zinc consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Zinc Production in Portugal

In value terms, zinc production rose to $X in 2021 estimated in export price. Over the period under review, production, however, showed strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 119%. Zinc production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Zinc Exports

Exports from Portugal

In 2021, approx. X tons of zinc were exported from Portugal; dropping by -46.6% against the previous year. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 146% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, zinc exports contracted dramatically to $X in 2021. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 113%. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Spain (X tons) was the main destination for zinc exports from Portugal, accounting for a 67% share of total exports. Moreover, zinc exports to Spain exceeded the volume sent to the second major destination, Denmark (X tons), more than tenfold. Ireland (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+36.1% per year) and Ireland (0.0% per year).

In value terms, Spain ($X) emerged as the key foreign market for zinc exports from Portugal, comprising 69% of total exports. The second position in the ranking was taken by Denmark ($X), with a 4.9% share of total exports. It was followed by Ireland, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+31.5% per year) and Ireland (0.0% per year).

Export Prices by Country

The average zinc export price stood at $X per ton in 2021, increasing by 32% against the previous year. Overall, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the average export price increased by 73%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to France ($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 Belgium (+54.8%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Portugal

In 2021, approx. X tons of zinc were imported into Portugal; picking up by 9% on the year before. In general, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +17.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 37%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, zinc imports skyrocketed to $X in 2021. Overall, imports posted strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 39%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of zinc to Portugal, with a 61% share of total imports. Moreover, zinc imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. The third position in this ranking was taken by Germany (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.9% per year) and Germany (+59.6% per year).

In value terms, Spain ($X) constituted the largest supplier of zinc to Portugal, comprising 60% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by Germany, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+21.8% per year) and Germany (+61.2% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, jumping by 25% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Peru ($X per ton), while the price for Finland ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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