Southern Asia: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Southern Asia

The South Asian market for precious metal ores and concentrates reduced to $X in 2022, which is down by -1.8% against the previous year. In general, consumption, however, enjoyed strong growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Precious Metal Ores And Concentrates in Southern Asia

In value terms, precious metal ore and concentrate production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 46% against the previous year. The level of 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 in Southern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of precious metal ores and concentrates, when their volume increased by 59% to X tons. Overall, exports, however, saw a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by 63%. Over the period under review, the exports hit record highs 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 totaled $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 109%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sri Lanka represented the major exporter of precious metal ores and concentrates in Southern Asia, with the volume of exports resulting at X tons, which was approx. 82% of total exports in 2022. It was distantly followed by Pakistan (X tons), creating a 14% share of total exports. India (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate exports from Sri Lanka stood at -24.5%. At the same time, Pakistan (+23.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +23.9% from 2012-2022. By contrast, India (-20.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sri Lanka ($X) remains the largest precious metal ore and concentrate supplier in Southern Asia, comprising 87% of total exports. The second position in the ranking was held by Pakistan ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sri Lanka totaled -17.7%. In the other countries, the average annual rates were as follows: Pakistan (-13.1% per year) and India (-62.9% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, reducing by -34.5% against the previous year. Overall, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of 141%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+9.1%), while the other leaders experienced a decline in the export price figures.

Imports of Precious Metal Ores And Concentrates

Imports in Southern Asia

In 2022, purchases abroad of precious metal ores and concentrates increased by 146% to X tons, rising for the second consecutive year after six years of decline. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 28,300%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports soared to $X in 2022. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 33,419%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

India dominates imports structure, resulting at X tons, which was near 94% of total imports in 2022. It was distantly followed by Afghanistan (X tons), constituting a 5.4% share of total imports.

Imports into India increased at an average annual rate of +25.8% from 2012 to 2022. At the same time, Afghanistan (+67.4%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +67.4% from 2012-2022. From 2012 to 2022, the share of Afghanistan increased by +5.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported precious metal ores and concentrates in Southern Asia, comprising 100% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 0.3% share of total imports.

In India, precious metal ore and concentrate imports increased at an average annual rate of +28.2% over the period from 2012-2022.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, falling by -17.8% against the previous year. Over the period under review, the import price, however, saw a modest increase. The most prominent rate of growth was recorded in 2020 an increase of 1,158%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

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 India ($X per ton), while Afghanistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.9%).

Source: IndexBox Platform

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