Europe: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Europe

In 2022, after four years of growth, there was significant decline in the Europe market for precious metal ores and concentrates, when its value decreased by -15.1% to $X. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped rapidly in the following year.

Production of Precious Metal Ores And Concentrates in Europe

In value terms, precious metal ore and concentrate production reached $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 43% against the previous year. The level of production peaked 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 Europe

In 2022, precious metal ore and concentrate exports in Europe was estimated at X tons, remaining stable against the previous year. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 81% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, precious metal ore and concentrate exports reduced rapidly to $X in 2022. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. The level of export peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Russia was the main exporter of precious metal ores and concentrates in Europe, with the volume of exports finishing at X tons, which was approx. 58% of total exports in 2022. It was distantly followed by Greece (X tons), mixing up a 31% share of total exports. The Netherlands (X tons), Spain (X tons) and Finland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Greece (with a CAGR of +199.3%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest precious metal ore and concentrate supplier in Europe, comprising 41% of total exports. The second position in the ranking was held by Finland ($X), with an 11% share of total exports. It was followed by Spain, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +3.2%. In the other countries, the average annual rates were as follows: Finland (+27.7% per year) and Spain (+7.1% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, falling by -23.8% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2021 when the export price increased by 32% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($X per ton), while Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+14.7%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in Europe

In 2022, purchases abroad of precious metal ores and concentrates decreased by -27.6% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2019 when imports increased by 119%. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, precious metal ore and concentrate imports shrank to $X in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 65%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

Germany (X tons) and Russia (X tons) represented roughly 77% of total imports in 2022. It was distantly followed by Bulgaria (X tons), making up a 16% share of total imports. Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bulgaria (with a CAGR of +244.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported precious metal ores and concentrates in Europe, comprising 59% of total imports. The second position in the ranking was held by Russia ($X), with a 7.7% share of total imports. It was followed by Bulgaria, with a 2.8% share.

In Germany, precious metal ore and concentrate imports expanded at an average annual rate of +16.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+21.8% per year) and Bulgaria (+209.3% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, picking up by 27% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The pace of growth was the most pronounced in 2015 an increase of 69% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+8.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform