EU: Silver Ore Market 2024

Silver Ore Market Size in the EU

In 2021, the EU silver ore market decreased by -3.5% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silver Ore Production in the EU

In value terms, silver ore production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2019 with an increase of 41%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silver Ore Exports

Exports in the EU

For the third year in a row, the European Union recorded growth in overseas shipments of silver ores and concentrates, which increased by 19% to X tons in 2021. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 281% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, silver ore exports surged to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 289% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

The Netherlands was the largest exporter of silver ores and concentrates in the European Union, with the volume of exports accounting for X tons, which was approx. 80% of total exports in 2021. Belgium (X tons) held the second position in the ranking, followed by Finland (X tons). All these countries together took approx. 16% share of total exports. Germany (X tons) followed a long way behind the leaders.

The Netherlands was also the fastest-growing in terms of the silver ores and concentrates exports, with a CAGR of +288.6% from 2012 to 2021. At the same time, Belgium (+55.7%), Germany (+16.4%) and Finland (+15.1%) displayed positive paces of growth. While the share of the Netherlands (+80 p.p.), Belgium (+8.6 p.p.) and Finland (+5.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Germany (-8 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) remains the largest silver ore supplier in the European Union, comprising 68% of total exports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total exports. It was followed by Finland, with an 8.4% share.

In the Netherlands, silver ore exports expanded at an average annual rate of +112.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belgium (+50.3% per year) and Finland (+36.1% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, growing by 1.9% against the previous year. Over the period under review, the export price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2019 when the export price increased by 40% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Finland ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+18.3%), while the other leaders experienced a decline in the export price figures.

Silver Ore Imports

Imports in the EU

Silver ore imports reached X tons in 2021, surging by 4.9% compared with 2020. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 140%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, silver ore imports expanded remarkably to $X in 2021. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 180% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) and Germany (X tons) represented the major importers of silver ores and concentrates in the European Union, together finishing at approx. 70% of total imports. It was distantly followed by Bulgaria (X tons) and Spain (X tons), together constituting a 25% share of total imports. Sweden (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +298.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Bulgaria ($X) constituted the countries with the highest levels of imports in 2021, with a combined 83% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +500.3%, 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 more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, surging by 6.6% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 an increase of 27% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Sweden ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+57.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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