Japan: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Japan

The Japanese market for precious metal ores and concentrates surged to $X in 2022, picking up by 28% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +41.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Japan

In value terms, precious metal ore and concentrate production stood at $X in 2022 estimated in export price. Overall, production recorded a noticeable descent. The pace of growth was the most pronounced in 2019 with an increase of 81% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Japan

In 2022, overseas shipments of precious metal ores and concentrates were finally on the rise to reach X tons after five years of decline. Over the period under review, exports, however, showed a precipitous setback. The pace of growth was the most pronounced in 2016 when exports increased by 144% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports fell dramatically to $X in 2022. Overall, exports, however, recorded a significant contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 88%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons), Malaysia (X kg) and Australia (X kg) were the main destinations of precious metal ore and concentrate exports from Japan, with a combined 93% share of total exports. Germany, the Netherlands and China lagged somewhat behind, together comprising a further 4.6%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +52.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for precious metal ore and concentrate exported from Japan were Germany ($X), Singapore ($X) and Malaysia ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +19.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2022, falling by -42.4% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2019 when the average export price increased by 92% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-5.2%), while the prices for the other major destinations experienced a decline.

Imports of Precious Metal Ores And Concentrates

Imports into Japan

In 2022, after two years of decline, there was significant growth in purchases abroad of precious metal ores and concentrates, when their volume increased by 37% to X tons. In general, imports posted moderate growth. The pace of growth was the most pronounced in 2016 with an increase of 60%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Bolivia (X tons), Russia (X tons) and the United States (X tons) were the main suppliers of precious metal ore and concentrate imports to Japan, with a combined 65% share of total imports. Argentina, Mexico, Peru, Brazil, the Philippines and Tanzania lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +65.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest precious metal ore and concentrate suppliers to Japan were Bolivia ($X), the United States ($X) and Russia ($X), with a combined 68% share of total imports. Peru, Mexico, Argentina, Brazil, the Philippines and Tanzania lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Mexico, with a CAGR of +62.2%, saw the highest growth rate of 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 average import price for precious metal ores and concentrates stood at $X per ton in 2022, with a decrease of -8.5% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, precious metal ore and concentrate import price increased by +101.9% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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 Brazil ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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