Price for Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR - 2023

Contents:

1. Price for Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR (CIF) - 2023
2. Price for Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR (FOB) - 2023
3. Imports of Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR
4. Exports of Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR

Price for Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR (CIF) - 2023

The average import price for platinum; unwrought or in semi-manufactured formses stood at $32.7M per ton in November 2023, with a decrease of -6.2% against the previous month. Over the period under review, the import price showed a abrupt decrease. The pace of growth appeared the most rapid in September 2023 when the average import price increased by 18% month-to-month. The import price peaked at $65.8M per ton in November 2022; however, from December 2022 to November 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($65.5M per ton), while the price for Switzerland ($28.6M per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+17.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR (FOB) - 2023

In November 2023, the average export price for platinum; unwrought or in semi-manufactured formses amounted to $39.4M per ton, picking up by 6.9% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 23% against the previous month. As a result, the export price reached the peak level of $54,709 per kg. From February 2023 to November 2023, the the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In November 2023, the country with the highest price was China ($40.0M per ton), while the average price for exports to Taiwan (Chinese) stood at $29.1M per ton.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR

After three years of growth, overseas purchases of platinum; unwrought or in semi-manufactured formses decreased by -23.2% to 91 tons in 2022. Over the period under review, imports showed a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 8.8%.

In value terms, imports of platinum; unwrought or in semi-manufactured formses fell dramatically to $4.4B in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 34%.

Top Suppliers of Platinum; Unwrought or in Semi-Manufactured Forms to Hong Kong SAR in 2022:

1. United Kingdom (24.1 tons)
2. South Africa (18.1 tons)
3. Russia (15.7 tons)
4. Switzerland (14.0 tons)
5. Japan (8.5 tons)
6. United States (5.0 tons)
7. Belgium (1.9 tons)

Exports of Platinum; Unwrought or in Semi-Manufactured Forms in Hong Kong SAR

In 2022, overseas shipments of platinum; unwrought or in semi-manufactured formses decreased by -5.3% to 70 tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +23.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 109% against the previous year. As a result, the exports attained the peak of 77 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of platinum; unwrought or in semi-manufactured formses dropped to $3.1B in 2022. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 166% against the previous year.

Top Export Markets for Platinum; Unwrought or in Semi-Manufactured Forms from Hong Kong SAR in 2022:

1. China (57.9 tons)
2. Switzerland (3.2 tons)
3. United Kingdom (2.7 tons)
4. Japan (1.2 tons)

Source: IndexBox Market Intelligence Platform