United Kingdom - Silver, Unwrought Or In Powder Form - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUK Silver Price Soars to $754 per Kg, Setting a New Record
United Kingdom Unwrought Silver Import Price in May 2023
In May 2023, the unwrought silver price stood at $754K per ton (CIF, United Kingdom), picking up by 11% against the previous month. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 an increase of 15% against the previous month. Over the period under review, average import prices attained the peak figure in May 2023.
Average prices varied noticeably amongst the major supplying countries. In May 2023, the country with the highest price was Hong Kong ($826K per ton), while the price for Kazakhstan ($811K per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Unwrought Silver in United Kingdom (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | |
| Hong Kong | 767,754 | 777,992 | 736,172 | N/A | N/A | N/A | N/A | 751,416 | 737,032 | 737,787 | 767,335 | 742,354 | 825,692 |
| Uzbekistan | N/A | N/A | N/A | N/A | 114,892 | 739,080 | 711,945 | 712,062 | N/A | N/A | N/A | N/A | 815,939 |
| Kazakhstan | 695,575 | 682,427 | 614,416 | 639,896 | 573,457 | 620,768 | 646,086 | 725,863 | 746,904 | 716,321 | 699,305 | 791,217 | 811,378 |
| Canada | N/A | N/A | N/A | N/A | N/A | 632,775 | 648,826 | 1,009,172 | N/A | N/A | N/A | N/A | N/A |
| Mexico | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 752,696 | N/A | N/A | N/A | N/A |
| Average | 720,341 | 693,542 | 631,384 | 597,450 | 532,389 | 603,026 | 621,422 | 712,027 | 744,749 | 656,875 | 686,849 | 678,610 | 753,892 |
United Kingdom Unwrought Silver Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was metals; silver, unwrought, (but not powder) ($789K per ton), while the price for metals; silver powder totaled $102K per ton.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by metals; silver, unwrought, (but not powder) (+0.5%).
United Kingdom Unwrought Silver Imports
In May 2023, purchases abroad of silver, unwrought or in powder form increased by 24% to 503 tons, rising for the ninth month in a row after two months of decline. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in November 2022 when imports increased by 43% month-to-month. Over the period under review, imports hit record highs in May 2023.
In value terms, unwrought silver imports surged to $379M (IndexBox estimates) in May 2023. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in November 2022 when imports increased by 47% against the previous month. Over the period under review, imports attained the peak figure in May 2023.
United Kingdom Unwrought Silver Imports by Type
In May 2023, metals; silver, unwrought, (but not powder) (477 tons) was the main type of unwrought silver supplied to the UK, with a 95% share of total imports. Moreover, metals; silver, unwrought, (but not powder) exceeded the figures recorded for the second-largest type, metals; silver powder (26 tons), more than tenfold.
From May 2022 to May 2023, the average monthly rate of growth in terms of the volume of import of metals; silver, unwrought, (but not powder) stood at +6.8%.
In value terms, metals; silver, unwrought, (but not powder) ($376M) constituted the largest type of unwrought silver supplied to the UK, comprising 99% of total imports. The second position in the ranking was held by metals; silver powder ($2.6M), with a 0.7% share of total imports.
United Kingdom Unwrought Silver Imports by Country
In May 2023, China (221 tons) constituted the largest supplier of unwrought silver to the UK, accounting for a 44% share of total imports. Moreover, unwrought silver imports from China exceeded the figures recorded by the second-largest supplier, Uzbekistan (70 tons), threefold. The third position in this ranking was taken by Hong Kong (60 tons), with a 12% share.
From May 2022 to May 2023, the average monthly rate of growth in terms of volume from China amounted to +17.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Uzbekistan (+87.0% per month) and Hong Kong (-6.0% per month).
In value terms, China ($172M) constituted the largest supplier of unwrought silver to the UK, comprising 45% of total imports. The second position in the ranking was held by Uzbekistan ($57M), with a 15% share of total imports. It was followed by Hong Kong, with a 13% share.
From May 2022 to May 2023, the average monthly growth rate of value from China amounted to +17.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Uzbekistan (+139.0% per month) and Hong Kong (-5.4% per month).
This report provides an in-depth analysis of the unwrought silver market in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
Country coverage:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
