MERCOSUR: Market for Precious Metal Ores And Concentrates 2025

Market Size for Precious Metal Ores And Concentrates in MERCOSUR

The MERCOSUR market for precious metal ores and concentrates expanded markedly to $X in 2022, surging by 9.2% against the previous year. In general, consumption posted a remarkable increase. As a result, consumption reached 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 MERCOSUR

In value terms, precious metal ore and concentrate production expanded markedly to $X in 2022 estimated in export price. In general, production posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 50% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in MERCOSUR

In 2022, precious metal ore and concentrate exports in MERCOSUR skyrocketed to X tons, rising by 23% against 2021 figures. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 55% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, precious metal ore and concentrate exports amounted to $X in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 62%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Peru was the key exporter of precious metal ores and concentrates in MERCOSUR, with the volume of exports recording X tons, which was near 69% of total exports in 2022. It was distantly followed by Ecuador (X tons), making up a 26% share of total exports. Argentina (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate exports from Peru stood at +19.2%. At the same time, Ecuador (+31.5%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +31.5% from 2012-2022. By contrast, Argentina (-5.7%) illustrated a downward trend over the same period. While the share of Ecuador (+19 p.p.) and Peru (+16 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (-16.9 p.p.) displayed negative dynamics.

In value terms, Peru ($X), Ecuador ($X) and Argentina ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 96% of total exports.

Among the main exporting countries, Ecuador, with a CAGR of +41.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -17.8% against the previous year. In general, the export price recorded a abrupt setback. The pace of growth was the most pronounced in 2020 when the export price increased by 27% against the previous year. The level of export peaked 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+7.6%), while the other leaders experienced a decline in the export price figures.

Imports of Precious Metal Ores And Concentrates

Imports in MERCOSUR

In 2022, imports of precious metal ores and concentrates in MERCOSUR contracted to X tons, falling by -13.2% compared with the previous year. In general, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 1,614% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports dropped notably to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 2,157%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Peru represented the main importing country with an import of about X tons, which finished at 76% of total imports. Chile (X tons) took the second position in the ranking, followed by Suriname (X tons). All these countries together took approx. 24% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate imports into Peru stood at +46.9%. At the same time, Suriname (+2,659.6%) and Chile (+3.0%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +2,659.6% from 2012-2022. While the share of Peru (+64 p.p.) and Suriname (+8.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-71.8 p.p.) displayed negative dynamics.

In value terms, Peru ($X) constitutes the largest market for imported precious metal ores and concentrates in MERCOSUR, comprising 75% of total imports. The second position in the ranking was taken by Chile ($X), with a 24% share of total imports.

In Peru, precious metal ore and concentrate imports expanded at an average annual rate of +36.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+7.6% per year) and Suriname (+441.6% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, waning by -33.8% against the previous year. Overall, the import price saw a slight curtailment. The growth pace was the most rapid in 2021 an increase of 67% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform