Brazil: Platinum Market 2024

Platinum Market Size in Brazil

The Brazilian platinum market reduced to $X in 2021, which is down by -6.9% against the previous year. In general, consumption continues to indicate a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Platinum Production in Brazil

In value terms, platinum production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production faced a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 19%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports from Brazil

In 2021, exports of platinum from Brazil expanded sharply to X tons, increasing by 14% compared with the previous year's figure. Over the period under review, exports recorded a modest increase. The pace of growth appeared the most rapid in 2018 when exports increased by 133%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, platinum exports declined rapidly to $X in 2021. Overall, exports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 145% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for platinum exports from Brazil, accounting for a 80% share of total exports. Moreover, platinum exports to Germany exceeded the volume sent to the second major destination, France (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+25.5% per year) and Lithuania (0.0% per year).

In value terms, Germany ($X) remains the key foreign market for platinum exports from Brazil, comprising 92% of total exports. The second position in the ranking was taken by France ($X), with a 7.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+9.7% per year) and Lithuania (0.0% per year).

Export Prices by Country

The average platinum export price stood at $X per kg in 2021, waning by -43.6% against the previous year. In general, the export price recorded a deep contraction. The growth pace was the most rapid in 2020 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per kg, and then shrank significantly in the following year.

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 Germany ($X per kg), while the average price for exports to Lithuania ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+7.2%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Brazil

In 2021, supplies from abroad of platinum decreased by -38.9% to X tons, falling for the second year in a row after four years of growth. Overall, imports saw a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 88% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, platinum imports fell markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 when imports increased by 82% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X kg), South Africa (X kg) and Germany (X kg) were the main suppliers of platinum imports to Brazil, with a combined 78% share of total imports. These countries were followed by the United States and Italy, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +31.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), South Africa ($X) and Germany ($X) constituted the largest platinum suppliers to Brazil, together accounting for 79% of total imports. The United States, Italy and Russia lagged somewhat behind, together comprising a further 19%.

Among the main suppliers, the United States, with a CAGR of +36.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, with an increase of 21% against the previous year. Over the period under review, the import price, however, recorded a perceptible descent. Over the period under review, average import prices hit record highs at $X per kg in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per kg) and Belgium ($X per kg), while the price for Russia ($X per kg) and the United States ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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