Italy: Silver Ore Market 2025

Silver Ore Market Size in Italy

The Italian silver ore market surged to $X in 2021, with an increase of 41% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.1% against 2019 indices. Silver ore consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Silver Ore Production in Italy

In value terms, silver ore production surged to $X in 2021 estimated in export price. Overall, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.2% against 2019 indices. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Silver Ore Exports

Exports from Italy

In 2021, after two years of growth, there was significant decline in shipments abroad of silver ores and concentrates, when their volume decreased by -94.6% to X kg. Over the period under review, exports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2020 with an increase of 726% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silver ore exports declined rapidly to $X in 2021. In general, exports showed a dramatic curtailment. The growth pace was the most rapid in 2020 with an increase of 435% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X kg) was the main destination for silver ore exports from Italy, accounting for a 51% share of total exports. Moreover, silver ore exports to Greece exceeded the volume sent to the second major destination, Switzerland (X kg), threefold. France (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+15.8% per year) and France (-29.1% per year).

In value terms, Spain ($X) remains the key foreign market for silver ore exports from Italy, comprising 93% of total exports. The second position in the ranking was held by Greece ($X), with a 4.1% share of total exports. It was followed by France, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled -34.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-2.3% per year) and France (-23.9% per year).

Export Prices by Country

In 2021, the average silver ore export price amounted to $X per ton, surging by 56% against the previous year. Over the period under review, the export price enjoyed a measured expansion. The growth pace was the most rapid in 2018 when the average export price increased by 585% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+143.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Ore Imports

Imports into Italy

In 2021, overseas purchases of silver ores and concentrates decreased by -96.6% to X kg for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2016 when imports increased by 113%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silver ore imports shrank dramatically to $X in 2021. Overall, imports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 120%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X kg) and the UK (X kg) were the main suppliers of silver ore imports to Italy.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of -44.6%).

In value terms, the UK ($X) constituted the largest supplier of silver ore to Italy, comprising 97% of total imports. The second position in the ranking was taken by Germany ($X), with a 2.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK totaled -43.1%.

Import Prices by Country

The average silver ore import price stood at $X per ton in 2021, rising by 36% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 70%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Germany totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.2%).

Source: IndexBox Platform

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