Belgium: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Belgium

The Belgian market for precious metal ores and concentrates skyrocketed to $X in 2022, rising by 19% against the previous year. Overall, consumption saw a prominent increase. Precious metal ore and concentrate consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Precious Metal Ores And Concentrates in Belgium

In value terms, precious metal ore and concentrate production reached $X in 2022 estimated in export price. Overall, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 156% against the previous year. Precious metal ore and concentrate production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Belgium

After two years of growth, overseas shipments of precious metal ores and concentrates decreased by -84% to X tons in 2022. In general, exports saw a pronounced decline. The pace of growth was the most pronounced in 2021 when exports increased by 97,375% against the previous year. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, precious metal ore and concentrate exports shrank notably to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 67,108%. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

China (X tons) was the main destination for precious metal ore and concentrate exports from Belgium, with a 99.9% share of total exports. It was followed by the UK (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest.

In value terms, China ($X) remains the key foreign market for precious metal ores and concentrates exports from Belgium, comprising 99.9% of total exports. The second position in the ranking was taken by the UK ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at +16.1%.

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, falling by -28.8% against the previous year. Overall, the export price, however, continues to indicate a noticeable increase. The most prominent rate of growth was recorded in 2016 an increase of 325% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into Belgium

Precious metal ore and concentrate imports into Belgium reduced notably to X tons in 2013, declining by -60.5% against the previous year's figure. In general, imports faced a sharp reduction. Imports peaked at X tons in 2012, and then fell remarkably in the following year.

In value terms, precious metal ore and concentrate imports contracted markedly to $X in 2013. Overall, imports recorded a sharp setback. Over the period under review, imports reached the maximum at $X in 2012, and then fell sharply in the following year.

Imports by Country

In 2013, Peru (X tons) constituted the largest precious metal ore and concentrate supplier to Belgium, with a 52% share of total imports. Moreover, precious metal ore and concentrate imports from Peru exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was taken by Slovakia (X tons), with an 8% share.

From 2012 to 2013, the average annual growth rate of volume from Peru totaled -58.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+441.0% per year) and Slovakia (-23.5% per year).

In value terms, the largest precious metal ore and concentrate suppliers to Belgium were Bulgaria ($X), Bolivia ($X) and Peru ($X), with a combined 80% share of total imports. Argentina, Slovakia, the United States, Brazil and India lagged somewhat behind, together comprising a further 19%.

Argentina, with a CAGR of +275.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2013, the average import price for precious metal ores and concentrates amounted to $X per ton, surging by 19% against the previous year. Over the last one years, it increased at an average annual rate of +19.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2013, amid the top importers, the country with the highest price was Bolivia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2013, the most notable rate of growth in terms of prices was attained by Bolivia (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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