China: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in China

The Chinese market for precious metal ores and concentrates soared to $X in 2022, surging by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded prominent growth. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Exports of Precious Metal Ores And Concentrates

Exports from China

In 2022, the amount of precious metal ores and concentrates exported from China soared to X tons, picking up by 20% against 2021. In general, exports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2018 when exports increased by 5,640,700% against the previous year. Over the period under review, the exports reached the maximum 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 soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 18,852,450%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X tons) and Germany (X tons) were the main destinations of precious metal ore and concentrate exports from China.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +123.8%).

In value terms, Finland ($X) and Germany ($X) constituted the largest markets for precious metal ore and concentrate exported from China worldwide.

Germany, with a CAGR of +159.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 an increase of 3,655%. 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 remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Germany totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+49.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into China

For the fifth consecutive year, China recorded growth in overseas purchases of precious metal ores and concentrates, which increased by 32% to X tons in 2022. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2013 when imports increased by 56% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, precious metal ore and concentrate imports expanded markedly to $X in 2022. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 42% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Peru (X tons) constituted the largest supplier of precious metal ore and concentrate to China, accounting for a 25% share of total imports. Moreover, precious metal ore and concentrate imports from Peru exceeded the figures recorded by the second-largest supplier, Mongolia (X tons), threefold. The third position in this ranking was held by Tajikistan (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Peru totaled +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mongolia (+284.9% per year) and Tajikistan (+128.6% per year).

In value terms, the largest precious metal ore and concentrate suppliers to China were Peru ($X), Mexico ($X) and Australia ($X), together comprising 46% of total imports. Russia, Bolivia, Indonesia, Canada, Ecuador, Tajikistan, Spain, Bulgaria, Greece and Mongolia lagged somewhat behind, together accounting for a further 36%.

Among the main suppliers, Mongolia, with a CAGR of +207.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for precious metal ores and concentrates amounted to $X per ton, falling by -12.9% against the previous year. In general, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bolivia ($X per ton), while the price for Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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