Luxembourg: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Luxembourg

The Luxembourg market for precious metal ores and concentrates rose rapidly to $X in 2022, increasing by 5.8% against the previous year. Overall, consumption posted buoyant growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Precious Metal Ores And Concentrates in Luxembourg

In value terms, precious metal ore and concentrate production rose rapidly to $X in 2022 estimated in export price. In general, production showed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 111%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Luxembourg

Precious metal ore and concentrate exports from Luxembourg expanded significantly to X kg in 2022, growing by 8.2% compared with 2021 figures. In general, exports, however, recorded a dramatic decline. The most prominent rate of growth was recorded in 2018 with an increase of 92%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate exports reached $X in 2022. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 99%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X kg) was the main destination for precious metal ore and concentrate exports from Luxembourg, with a 81% share of total exports. Moreover, precious metal ore and concentrate exports to Belgium exceeded the volume sent to the second major destination, the Philippines (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-42.3% per year) and the Netherlands (-30.7% per year).

In value terms, Belgium ($X) remains the key foreign market for precious metal ores and concentrates exports from Luxembourg, comprising 100% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-43.5% per year) and the Netherlands (-83.1% per year).

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per kg, reducing by -7% against the previous year. In general, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 45%. As a result, the export price reached the peak level of $X per kg, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+46.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Precious Metal Ores And Concentrates

Imports into Luxembourg

In 2022, supplies from abroad of precious metal ores and concentrates was finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 2,939%. 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. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 40,228%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Belgium (X kg) constituted the largest precious metal ore and concentrate supplier to Luxembourg, accounting for a 72% share of total imports. Moreover, precious metal ore and concentrate imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X kg), threefold.

From 2013 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +9.0%.

In value terms, Belgium ($X) constituted the largest supplier of precious metal ores and concentrates to Luxembourg, comprising 100% of total imports. The second position in the ranking was taken by Germany ($X), with a 0.2% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +11.1%.

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per kg in 2022, shrinking by -7.4% against the previous year. Overall, the import price, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 an increase of 12,972%. Over the period under review, average import prices attained the peak figure at $X per kg in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per kg), while the price for Germany amounted to $X per kg.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by France (+35.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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