South-Eastern Asia: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in South-Eastern Asia

The Southeast Asian market for precious metal ores and concentrates rose modestly to $X in 2022, picking up by 3.1% against the previous year. Over the period under review, consumption, however, showed a buoyant increase. 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 South-Eastern Asia

In value terms, precious metal ore and concentrate production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Precious Metal Ores And Concentrates

Exports in South-Eastern Asia

In 2022, overseas shipments of precious metal ores and concentrates increased by 59% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 254% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, precious metal ore and concentrate exports surged to $X in 2022. Overall, exports showed a resilient increase. The growth pace was the most rapid in 2016 when exports increased by 344%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Indonesia (X tons) represented the key exporter of precious metal ores and concentrates, making up 69% of total exports. It was distantly followed by Malaysia (X tons), making up a 22% share of total exports. Myanmar (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the precious metal ores and concentrates exports, with a CAGR of +36.8% from 2012 to 2022. At the same time, Myanmar (+27.3%) and Malaysia (+16.1%) displayed positive paces of growth. By contrast, Vietnam (-7.0%) illustrated a downward trend over the same period. While the share of Indonesia (+55 p.p.) and Myanmar (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (-22 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest precious metal ore and concentrate supplier in South-Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by Myanmar, with a 2.3% share.

In Indonesia, precious metal ore and concentrate exports increased at an average annual rate of +38.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+6.4% per year) and Myanmar (+43.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, reducing by -4.2% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by 26% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+12.7%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in South-Eastern Asia

In 2022, approx. X tons of precious metal ores and concentrates were imported in South-Eastern Asia; picking up by 23% on the previous year's figure. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2018 with an increase of 1,025%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports rose modestly to $X in 2022. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 701% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia was the key importing country with an import of around X tons, which recorded 69% of total imports. It was distantly followed by Vietnam (X tons), generating a 31% share of total imports.

Imports into Malaysia increased at an average annual rate of +33.6% from 2012 to 2022. At the same time, Vietnam (+44.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +44.7% from 2012-2022. Vietnam (+15 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -9.1% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported precious metal ores and concentrates in South-Eastern Asia, comprising 75% of total imports. The second position in the ranking was held by Vietnam ($X), with a 24% share of total imports.

In Malaysia, precious metal ore and concentrate imports expanded at an average annual rate of +36.5% over the period from 2012-2022.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with a decrease of -15.9% against the previous year. Over the period under review, the import price saw a noticeable setback. The most prominent rate of growth was recorded in 2020 when the import price increased by 51% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%).

Source: IndexBox Platform

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