Asia: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Asia

The Asian market for precious metal ores and concentrates was estimated at $X in 2021, growing by 9.8% against the previous year. In general, consumption showed buoyant growth. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Precious Metal Ores And Concentrates in Asia

In value terms, precious metal ore and concentrate production expanded markedly to $X in 2021 estimated in export price. Overall, production showed prominent growth. The pace of growth was the most pronounced in 2016 with an increase of 51% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in Asia

In 2021, overseas shipments of precious metal ores and concentrates decreased by -10.9% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 68% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports declined modestly to $X in 2021. In general, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 78% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced slightly in the following year.

Exports by Country

Kyrgyzstan (X tons) and Kazakhstan (X tons) represented the largest exporters of precious metal ores and concentrates in 2021, amounting to approx. 28% and 28% of total exports, respectively. It was distantly followed by Lao People's Democratic Republic (X tons), Turkey (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons), together making up a 37% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Lao People's Democratic Republic (with a CAGR of +42.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) remains the largest precious metal ore and concentrate supplier in Asia, comprising 42% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 20% share of total exports. It was followed by Turkey, with a 12% share.

In Kazakhstan, precious metal ore and concentrate exports expanded at an average annual rate of +33.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+26.0% per year) and Turkey (+11.6% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 8.4% against the previous year. In general, the export price, however, showed a slight downturn. The pace of growth appeared the most rapid in 2020 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.6%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in Asia

In 2021, the amount of precious metal ores and concentrates imported in Asia soared to X tons, jumping by 19% against the year before. Overall, imports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 69% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, precious metal ore and concentrate imports soared to $X in 2021. In general, imports showed buoyant growth. The growth pace was the most rapid in 2013 when imports increased by 29%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

China prevails in imports structure, resulting at X tons, which was near 84% of total imports in 2021. It was distantly followed by Kazakhstan (X tons), mixing up a 7.4% share of total imports. Vietnam (X tons) and Taiwan (Chinese) (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to precious metal ore and concentrate imports into China stood at +26.7%. At the same time, Taiwan (Chinese) (+178.6%), Vietnam (+23.0%) and Kazakhstan (+7.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia, with a CAGR of +178.6% from 2012-2021. China (+20 p.p.) and Taiwan (Chinese) (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan saw its share reduced by -17.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported precious metal ores and concentrates in Asia, comprising 79% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 5.2% share of total imports. It was followed by Taiwan (Chinese), with a 4.5% share.

In China, precious metal ore and concentrate imports expanded at an average annual rate of +18.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (-1.3% per year) and Taiwan (Chinese) (+185.9% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 7.7% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 23% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+30.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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