Kazakhstan: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Kazakhstan

After two years of growth, the Kazakh market for precious metal ores and concentrates decreased by -68.8% to $X in 2022. Overall, consumption recorded a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Kazakhstan

In value terms, precious metal ore and concentrate production contracted rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a buoyant increase. Precious metal ore and concentrate production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Kazakhstan

In 2022, shipments abroad of precious metal ores and concentrates decreased by -16.9% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 1,075%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate exports dropped to $X in 2022. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2019 when exports increased by 3,063% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons), China (X tons) and Kyrgyzstan (X tons) were the main destinations of precious metal ore and concentrate exports from Kazakhstan, together accounting for 99.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +96.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), China ($X) and Kyrgyzstan ($X) were the largest markets for precious metal ore and concentrate exported from Kazakhstan worldwide, with a combined 98% share of total exports.

China, with a CAGR of +77.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2022, rising by 4.9% against the previous year. Over the period under review, the export price saw a resilient increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 169% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kyrgyzstan ($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 China (+13.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Precious Metal Ores And Concentrates

Imports into Kazakhstan

In 2022, after four years of growth, there was significant decline in overseas purchases of precious metal ores and concentrates, when their volume decreased by -37.5% to X tons. Over the period under review, imports showed a slight descent. The pace of growth was the most pronounced in 2019 when imports increased by 150%. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, precious metal ore and concentrate imports reduced modestly to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 61%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Kyrgyzstan (X tons) constituted the largest supplier of precious metal ore and concentrate to Kazakhstan, accounting for a 74% share of total imports. Moreover, precious metal ore and concentrate imports from Kyrgyzstan exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Kyrgyzstan amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-12.0% per year) and Bolivia (+527.4% per year).

In value terms, Russia ($X) constituted the largest supplier of precious metal ores and concentrates to Kazakhstan, comprising 73% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Kyrgyzstan (+15.8% per year) and Bolivia (-33.2% per year).

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2022, with an increase of 54% against the previous year. Overall, the import price recorded modest growth. The pace of growth appeared the most rapid in 2015 an increase of 148% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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