SADC: Platinum Market 2024

Platinum Market Size in SADC

After two years of decline, the SADC platinum market increased by 0.5% to $X in 2021. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Platinum Production in SADC

In value terms, platinum production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a slight decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Platinum Exports

Exports in SADC

After two years of decline, shipments abroad of platinum increased by 34% to X tons in 2021. Overall, exports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by 48% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, platinum exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a slight slump. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, recording X tons, which was near 98% of total exports in 2021. Zimbabwe (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to platinum exports from South Africa stood at -2.9%. Zimbabwe (-1.1%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest platinum supplier in SADC, comprising 97% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled -1.8%.

Export Prices by Country

The export price in SADC stood at $X per kg in 2021, increasing by 24% against the previous year. Export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, platinum export price increased by +36.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 44%. Over the period under review, the export prices hit record highs at $X per kg in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zimbabwe ($X per kg), while South Africa totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zimbabwe (+2.3%).

Platinum Imports

Imports in SADC

In 2021, supplies from abroad of platinum decreased by -59.4% to X tons, falling for the second year in a row after three years of growth. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 158%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, platinum imports reduced notably to $X in 2021. Overall, imports faced a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by 83% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa represented the main importing country with an import of around X kg, which accounted for 73% of total imports. It was distantly followed by Democratic Republic of the Congo (X kg), achieving a 21% share of total imports. Zimbabwe (X kg) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to platinum imports into South Africa stood at -18.1%. At the same time, Democratic Republic of the Congo (+42.5%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of +42.5% from 2012-2021. By contrast, Zimbabwe (-12.7%) illustrated a downward trend over the same period. While the share of Democratic Republic of the Congo (+21 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-23.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported platinum in SADC, comprising 99% of total imports. The second position in the ranking was taken by Zimbabwe ($X), with a 0.1% share of total imports.

In South Africa, platinum imports declined by an average annual rate of -10.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Zimbabwe (-13.5% per year) and Democratic Republic of the Congo (-18.8% per year).

Import Prices by Country

The import price in SADC stood at $X per kg in 2021, rising by 72% against the previous year. In general, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 90%. As a result, import price reached the peak level of $X per kg. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per kg), while Democratic Republic of the Congo ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+8.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform