Price for Metals; Platinum, Unwrought or in Powder Form in the United States - 2023
Contents:
- Price for Metals; Platinum, Unwrought or in Powder Form in the United States (CIF) - 2023
- Price for Metals; Platinum, Unwrought or in Powder Form in the United States (FOB) - 2023
- Imports of Metals; Platinum, Unwrought or in Powder Form in the United States
- Exports of Metals; Platinum, Unwrought or in Powder Form in the United States
Price for Metals; Platinum, Unwrought or in Powder Form in the United States (CIF) - 2023
The average import price for metals; platinum, unwrought or in powder forms stood at $29.7M per ton in December 2023, rising by 1.6% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 an increase of 5.3% m-o-m. Over the period under review, average import prices reached the maximum at $34.2M per ton in May 2023; afterwards, it flattened through to December 2023.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the highest price was recorded for prices from Germany ($31.7M per ton) and Switzerland ($30.1M per ton), while the price for South Africa ($29.4M per ton) and Belgium ($29.4M 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 Japan (+2.8%), while the prices for the other major suppliers experienced a decline.
Price for Metals; Platinum, Unwrought or in Powder Form in the United States (FOB) - 2023
In December 2023, the average export price for metals; platinum, unwrought or in powder forms amounted to $30.1M per ton, dropping by -33.7% against the previous month. In general, the export price showed a pronounced shrinkage. The most prominent rate of growth was recorded in November 2023 when the average export price increased by 46% against the previous month. Over the period under review, the average export prices reached the maximum at $61.0M per ton in January 2023; however, from February 2023 to December 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In December 2023, the countries with the highest prices were Canada ($33.3M per ton) and Italy ($30.5M per ton), while the average price for exports to South Korea ($29.2M per ton) and Germany ($29.6M per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (-0.6%), while the prices for the other major destinations experienced a decline.
Imports of Metals; Platinum, Unwrought or in Powder Form in the United States
For the fourth year in a row, the United States recorded growth in purchases abroad of metals; platinum, unwrought or in powder forms, which increased by 1.7% to 52 tons in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +19.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 39%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of metals; platinum, unwrought or in powder forms contracted to $1.7B in 2022. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 64% against the previous year. As a result, imports reached the peak of $1.9B, and then reduced in the following year.
| Import of Metals; Platinum, Unwrought or in Powder Form in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 330 | 431 | 964 | 782 | 33.3% |
| Belgium | 63.5 | 115 | 231 | 244 | 56.6% |
| Italy | 119 | 94.2 | 198 | 175 | 13.7% |
| Russia | 14.2 | 52.8 | 61.2 | 98.7 | 90.8% |
| Germany | 156 | 159 | 158 | 94.6 | -15.4% |
| Japan | 19.1 | 47.8 | 27.3 | 92.3 | 69.1% |
| Switzerland | 25.1 | 55.5 | 106 | 47.6 | 23.8% |
| Singapore | 106 | 127 | 52.2 | 39.7 | -27.9% |
| Others | 74.8 | 53.7 | 67.8 | 114 | 15.1% |
| Total | 907 | 1,136 | 1,866 | 1,688 | 23.0% |
Top Suppliers of Metals; Platinum, Unwrought or in Powder Form to the United States in 2022:
- South Africa (24.9 tons)
- Belgium (8.0 tons)
- Italy (5.5 tons)
- Russia (3.2 tons)
- Germany (2.9 tons)
- Japan (1.7 tons)
- Switzerland (1.5 tons)
- Singapore (0.3 tons)
Exports of Metals; Platinum, Unwrought or in Powder Form in the United States
In 2022, exports of metals; platinum, unwrought or in powder forms from the United States rose significantly to 30 tons, surging by 8.3% against 2021. Overall, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +24.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 90%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of metals; platinum, unwrought or in powder forms rose significantly to $1.1B in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 78% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Metals; Platinum, Unwrought or in Powder Form in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 67.1 | 142 | 231 | 297 | 64.2% |
| Germany | 139 | 87.1 | 166 | 194 | 11.8% |
| Japan | 46.2 | 56.1 | 101 | 179 | 57.1% |
| Switzerland | 51.2 | 407 | 122 | 126 | 35.0% |
| United Kingdom | 88.6 | 41.5 | 107 | 103 | 5.1% |
| Hong Kong SAR | 1.7 | 4.7 | 23.4 | 72.5 | 249.4% |
| Canada | 19.1 | 23.5 | 65.5 | 35.8 | 23.3% |
| South Korea | 21.3 | 25.7 | 31.6 | 35.0 | 18.0% |
| India | 14.7 | 33.1 | 23.5 | 17.1 | 5.2% |
| Brazil | 24.2 | 26.1 | 22.0 | 5.3 | -39.7% |
| Others | 24.5 | 41.1 | 88.7 | 55.8 | 31.6% |
| Total | 498 | 888 | 982 | 1,121 | 31.1% |
Top Export Markets for Metals; Platinum, Unwrought or in Powder Form from the United States in 2022:
- Italy (8.3 tons)
- Japan (4.8 tons)
- Germany (4.2 tons)
- Switzerland (3.4 tons)
- United Kingdom (2.6 tons)
- Hong Kong SAR (2.3 tons)
- South Korea (1.0 tons)
- Canada (0.9 tons)
- India (0.4 tons)
- Brazil (0.1 tons)
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