Price for Metals; Platinum, Unwrought or in Powder Form in the UK - 2023

Contents:

1. Price for Metals; Platinum, Unwrought or in Powder Form in the UK (FOB) - 2022
2. Price for Metals; Platinum, Unwrought or in Powder Form in the UK (CIF) - 2023
3. Exports of Metals; Platinum, Unwrought or in Powder Form in the UK
4. Imports of Metals; Platinum, Unwrought or in Powder Form in the UK

Price for Metals; Platinum, Unwrought or in Powder Form in the UK (FOB) - 2022

In 2022, the average export price for metals; platinum, unwrought or in powder forms amounted to $30,978,189 per ton, waning by -17.2% against the previous year. Overall, the export price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs at $50,566,813 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($31,862,914 per ton), while the average price for exports to Hong Kong SAR ($11,148,000 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 Ireland (+43.3%), while the prices for the other major destinations experienced a decline.

Price for Metals; Platinum, Unwrought or in Powder Form in the UK (CIF) - 2023

The average import price for metals; platinum, unwrought or in powder forms stood at $29.6M per ton in December 2023, approximately mirroring the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 5.9% month-to-month. Over the period under review, average import prices hit record highs at $34.7M per ton in June 2023; afterwards, it flattened through to December 2023.

Average prices varied noticeably amongst the major supplying countries. In December 2023, the countries with the highest prices were Germany ($32.8M per ton) and Japan ($31.6M per ton), while the price for South Africa ($29.3M per ton) and Belgium ($29.7M per ton) were amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (0.0%), while the prices for the other major suppliers experienced a decline.

Exports of Metals; Platinum, Unwrought or in Powder Form in the UK

In 2022, approx. 37 tons of metals; platinum, unwrought or in powder forms were exported from the UK; approximately equating the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 5.8% against the previous year.

In value terms, exports of metals; platinum, unwrought or in powder forms reduced remarkably to $1.2B in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 37% against the previous year. As a result, the exports reached the peak of $1.4B, and then contracted markedly in the following year.

Top Export Markets for Metals; Platinum, Unwrought or in Powder Form from the UK in 2022:

1. North Macedonia (13.2 tons)
2. United States (8.0 tons)
3. Japan (3.2 tons)
4. Belgium (3.0 tons)
5. Germany (2.7 tons)
6. Poland (1.3 tons)
7. Ireland (1.1 tons)
8. China (0.8 tons)
9. India (0.7 tons)

Imports of Metals; Platinum, Unwrought or in Powder Form in the UK

In 2022, the amount of metals; platinum, unwrought or in powder forms imported into the UK surged to 35 tons, growing by 25% against the previous year. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 64% against the previous year. As a result, imports attained the peak of 41 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of metals; platinum, unwrought or in powder forms rose markedly to $1.1B in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Metals; Platinum, Unwrought or in Powder Form to the UK in 2022:

1. South Africa (19.2 tons)
2. Belgium (7.0 tons)
3. Italy (3.3 tons)
4. Germany (1.8 tons)
5. Norway (1.7 tons)
6. United States (0.4 tons)

Source: IndexBox Market Intelligence Platform