Brazil: Platinum Market 2022

Platinum Market Size in Brazil

After six years of decline, the Brazilian platinum market increased by 5.8% to $X in 2021. Over the period under review, consumption, however, saw a abrupt decline. Platinum consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Platinum Production in Brazil

In value terms, platinum production stood at $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19% against the previous year. Platinum production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports from Brazil

In 2021, shipments abroad of platinum decreased by -40.9% to X tons, falling for the second consecutive year after four years of growth. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by 125%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, platinum exports declined markedly to $X in 2021. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 142%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for platinum exports from Brazil, accounting for a 97% share of total exports. It was followed by Lithuania (X kg), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -6.5%.

In value terms, Germany ($X) remains the key foreign market for platinum exports from Brazil, comprising 92% of total exports. The second position in the ranking was taken by Lithuania ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to -5.2%.

Export Prices by Country

The average platinum export price stood at $X per kg in 2021, with an increase of 6.1% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, platinum export price decreased by -33.7% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 87% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per kg), while the average price for exports to Lithuania stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+26.9%).

Platinum Imports

Imports into Brazil

In 2021, purchases abroad of platinum decreased by -33.7% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 when imports increased by 78% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, platinum imports contracted remarkably to $X in 2021. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 74%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X kg), Belgium (X kg) and South Africa (X kg) were the main suppliers of platinum imports to Brazil, together comprising 80% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +45.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), South Africa ($X) and Germany ($X) were the largest platinum suppliers to Brazil, with a combined 79% share of total imports. The United States, Italy and Russia lagged somewhat behind, together comprising a further 19%.

The United States, with a CAGR of +36.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average platinum import price amounted to $X per kg, picking up by 11% against the previous year. Overall, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 51% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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