Chile: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Chile

The Chilean market for precious metal ores and concentrates dropped markedly to $X in 2022, falling by -17.7% against the previous year. Over the period under review, consumption, however, showed buoyant growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Chile

In value terms, precious metal ore and concentrate production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 81%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Chile

In 2022, shipments abroad of precious metal ores and concentrates increased by 91% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 228%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports skyrocketed to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 740%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Mexico (X tons) and Malaysia (X tons) were the main destinations of precious metal ore and concentrate exports from Chile, with a combined 94% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +167.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for precious metal ore and concentrate exported from Chile were China ($X), Mexico ($X) and Malaysia ($X), with a combined 92% share of total exports.

Mexico, with a CAGR of +149.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, falling by -7% against the previous year. In general, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 156%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+20.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Precious Metal Ores And Concentrates

Imports into Chile

In 2022, purchases abroad of precious metal ores and concentrates decreased by -83.2% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2015 with an increase of 679,230% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank sharply in the following year.

In value terms, precious metal ore and concentrate imports dropped notably to $X in 2022. Overall, imports, however, saw a strong expansion. The growth pace was the most rapid in 2015 when imports increased by 49,735% against the previous year. Imports peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Bolivia (X tons) constituted the largest supplier of precious metal ore and concentrate to Chile, accounting for a 79% share of total imports. Moreover, precious metal ore and concentrate imports from Bolivia exceeded the figures recorded by the second-largest supplier, Peru (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Bolivia stood at +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+92.9% per year) and Argentina (-51.0% per year).

In value terms, Bolivia ($X) constituted the largest supplier of precious metal ores and concentrates to Chile, comprising 73% of total imports. The second position in the ranking was held by Peru ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Bolivia amounted to +61.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+101.0% per year) and Argentina (-50.4% per year).

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2022, surging by 8% against the previous year. Over the period under review, the import price enjoyed a measured increase. The pace of growth was the most pronounced in 2014 an increase of 765%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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