Central Asia: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Central Asia

In 2022, after two years of growth, there was decline in the Central Asian market for precious metal ores and concentrates, when its value decreased by -0.2% to $X. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2021, and then dropped modestly in the following year.

Production of Precious Metal Ores And Concentrates in Central Asia

In value terms, precious metal ore and concentrate production amounted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 94% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in Central Asia

In 2022, approx. X tons of precious metal ores and concentrates were exported in Central Asia; with a decrease of -28.7% compared with the previous year's figure. In general, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 174% 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 somewhat lower figure.

In value terms, precious metal ore and concentrate exports dropped to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 with an increase of 428% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the two major exporters of precious metal ores and concentrates, namely Kazakhstan and Kyrgyzstan, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +18.6%).

In value terms, Kazakhstan ($X) remains the largest precious metal ore and concentrate supplier in Central Asia, comprising 80% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan totaled +28.8%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, with an increase of 22% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2014 an increase of 191% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.7%).

Imports of Precious Metal Ores And Concentrates

Imports in Central Asia

In 2022, after four years of growth, there was significant decline in overseas purchases of precious metal ores and concentrates, when their volume decreased by -37.5% to X tons. In general, imports showed a slight contraction. The pace of growth was the most pronounced in 2019 with an increase of 150%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, precious metal ore and concentrate imports fell modestly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 61% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of precious metal ore and concentrate imports in 2022 were Kazakhstan (X tons), together amounting to 99.9% of total import.

Kazakhstan was also the fastest-growing in terms of the precious metal ores and concentrates imports, with a CAGR of -1.6% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported precious metal ores and concentrates in Central Asia.

In Kazakhstan, precious metal ore and concentrate imports remained relatively stable over the period from 2012-2022.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, rising by 54% against the previous year. Overall, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2015 an increase of 148%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Kazakhstan.

From 2012 to 2022, the rate of growth in terms of prices for Kazakhstan amounted to +1.0% per year.

Source: IndexBox Platform

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