Eastern Asia: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Eastern Asia

The East Asian market for precious metal ores and concentrates skyrocketed to $X in 2022, increasing by 32% against the previous year. In general, consumption posted prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Precious Metal Ores And Concentrates in Eastern Asia

In value terms, precious metal ore and concentrate production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in overseas shipments of precious metal ores and concentrates, which increased by 17% to X tons in 2022. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 113%. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, precious metal ore and concentrate exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 133%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Taiwan (Chinese) dominates exports structure, reaching X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Democratic People's Republic of Korea (X tons), constituting a 4.5% share of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate exports from Taiwan (Chinese) stood at +25.0%. At the same time, South Korea (+31.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +31.2% from 2012-2022. By contrast, Democratic People's Republic of Korea (-11.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese) and South Korea increased by +58 and +1.9 percentage points, respectively.

In value terms, Taiwan (Chinese) ($X) remains the largest precious metal ore and concentrate supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a 6.1% share of total exports.

In Taiwan (Chinese), precious metal ore and concentrate exports increased at an average annual rate of +27.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Democratic People's Republic of Korea (-8.0% per year) and South Korea (+61.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 2.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 50% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+23.2%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in Eastern Asia

For the fifth consecutive year, Eastern Asia recorded growth in purchases abroad of precious metal ores and concentrates, which increased by 31% to X tons in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 51%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, precious metal ore and concentrate imports rose notably to $X in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) represented the largest importer of precious metal ores and concentrates in Eastern Asia, mixing up 97% of total import.

China was also the fastest-growing in terms of the precious metal ores and concentrates imports, with a CAGR of +19.2% from 2012 to 2022. From 2012 to 2022, the share of China increased by +8.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, precious metal ore and concentrate imports increased at an average annual rate of +17.9% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, dropping by -13.2% against the previous year. Over the period under review, the import price showed a pronounced slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 13% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.1% per year.

Source: IndexBox Platform

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