Thailand: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Thailand

The Thai market for precious metal ores and concentrates expanded modestly to $X in 2022, surging by 3.6% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.4% against 2020 indices. Precious metal ore and concentrate consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Thailand

In value terms, precious metal ore and concentrate production rose to $X in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 9.9%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Thailand

In 2022, approx. X tons of precious metal ores and concentrates were exported from Thailand; with an increase of 57% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a significant decrease. The pace of growth was the most pronounced in 2017 when exports increased by 162%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports surged to $X in 2022. In general, exports, however, saw a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 175% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for precious metal ore and concentrate exports from Thailand, with a 87% share of total exports. Moreover, precious metal ore and concentrate exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -46.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+37.4% per year) and Belgium (-56.8% per year).

In value terms, China ($X) emerged as the key foreign market for precious metal ores and concentrates exports from Thailand, comprising 92% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -44.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+16.5% per year) and Belgium (-47.4% per year).

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, jumping by 27% against the previous year. In general, the export price enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 2,278%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+21.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Precious Metal Ores And Concentrates

Imports into Thailand

In 2022, purchases abroad of precious metal ores and concentrates increased by 24% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 237% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports soared to $X in 2022. Over the period under review, imports, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 567%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) was the main supplier of precious metal ore and concentrate to Thailand, accounting for a approx. 100% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled -1.8%.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of precious metal ores and concentrates to Thailand.

From 2013 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to -2.6%.

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2022, surging by 29% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 1,920% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Taiwan (Chinese).

From 2013 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to -0.8% per year.

Source: IndexBox Platform

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