Asia: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Asia

The Asian market for precious metal ores and concentrates totaled $X in 2022, rising by 8.6% against the previous year. Overall, consumption showed prominent growth. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Precious Metal Ores And Concentrates in Asia

In value terms, precious metal ore and concentrate production totaled $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 56% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of precious metal ores and concentrates, when their volume increased by 7% to X tons. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 69% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports expanded significantly to $X in 2022. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2019 with an increase of 84%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of precious metal ores and concentrates, namely Kazakhstan, Indonesia and Kyrgyzstan, represented more than half of total export. Turkey (X tons) took the next position in the ranking, followed by Armenia (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Georgia (X tons). All these countries together took approx. 38% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Georgia (with a CAGR of +116.1%), while the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Indonesia ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, with a combined 64% share of total exports. Turkey, Kyrgyzstan, Armenia, Georgia and Malaysia lagged somewhat behind, together comprising a further 32%.

Among the main exporting countries, Georgia, with a CAGR of +61.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by 6.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 36%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.7%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in Asia

For the fifth consecutive year, Asia recorded growth in overseas purchases of precious metal ores and concentrates, which increased by 28% to X tons in 2022. In general, imports posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 33% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, precious metal ore and concentrate imports expanded markedly to $X in 2022. Overall, imports posted a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

China prevails in imports structure, accounting for X tons, which was approx. 90% of total imports in 2022. The following importers - Kazakhstan (X tons) and Georgia (X tons) - together made up 5.8% of total imports.

Imports into China increased at an average annual rate of +19.2% from 2012 to 2022. At the same time, Georgia (+117.2%) displayed positive paces of growth. Moreover, Georgia emerged as the fastest-growing importer imported in Asia, with a CAGR of +117.2% from 2012-2022. By contrast, Kazakhstan (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Georgia increased by +20 and +1.9 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported precious metal ores and concentrates in Asia, comprising 82% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 5% share of total imports.

In China, precious metal ore and concentrate imports increased at an average annual rate of +17.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (-0.6% per year) and Georgia (+104.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, declining by -10.9% against the previous year. Overall, the import price showed a pronounced shrinkage. The growth pace was the most rapid in 2016 when the import price increased by 8.2% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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