India: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in India

The Indian market for precious metal ores and concentrates expanded modestly to $X in 2022, with an increase of 4.3% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.6% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Precious Metal Ores And Concentrates in India

In value terms, precious metal ore and concentrate production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 5%. Precious metal ore and concentrate production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from India

In 2022, approx. X tons of precious metal ores and concentrates were exported from India; shrinking by -84.7% compared with the year before. Over the period under review, exports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2018 with an increase of 3,085% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate exports declined notably to $X in 2022. Overall, exports faced a significant decrease. The pace of growth was the most pronounced in 2018 with an increase of 261%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for precious metal ore and concentrate exports from India, accounting for a 95% share of total exports. Moreover, precious metal ore and concentrate exports to Nepal exceeded the volume sent to the second major destination, Thailand (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Nepal totaled +5.1%.

In value terms, Thailand ($X) emerged as the key foreign market for precious metal ores and concentrates exports from India, comprising 76% of total exports. The second position in the ranking was taken by Nepal ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Thailand amounted to +64.2%.

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, surging by 4.1% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 282%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Nepal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+659.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into India

In 2022, supplies from abroad of precious metal ores and concentrates increased by 133% to X tons, rising for the fourth consecutive year after three years of decline. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 7,055,260% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports skyrocketed to $X in 2022. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 43,158%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Colombia (X tons) was the main precious metal ore and concentrate supplier to India, accounting for a 100% share of total imports. It was followed by Peru (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia amounted to +133.3%.

In value terms, Colombia ($X) constituted the largest supplier of precious metal ores and concentrates to India, comprising 95% of total imports. The second position in the ranking was taken by Peru ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia stood at +96.6%.

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per kg in 2022, declining by -13.6% against the previous year. In general, the import price, however, continues to indicate a mild increase. The growth pace was the most rapid in 2013 an increase of 14,950% against the previous year. As a result, import price attained the peak level of $X per kg. From 2014 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 kg), while the price for Colombia totaled $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+82.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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