Brazil: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Brazil

In 2021, after five years of growth, there was decline in the Brazilian market for precious metal ores and concentrates, when its value decreased by -0.2% to $X. Overall, consumption, however, saw significant growth. Over the period under review, the market attained the maximum level at $X in 2020, and then declined slightly in the following year.

Production of Precious Metal Ores And Concentrates in Brazil

In value terms, precious metal ore and concentrate production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. Precious metal ore and concentrate production peaked at $X in 2020, and then shrank in the following year.

Exports of Precious Metal Ores And Concentrates

Exports from Brazil

In 2021, approx. X tons of precious metal ores and concentrates were exported from Brazil; growing by 4.6% against the year before. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 78% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate exports soared to $X in 2021. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 230%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for precious metal ore and concentrate exports from Brazil, accounting for a 92% share of total exports. Moreover, precious metal ore and concentrate exports to South Korea exceeded the volume sent to the second major destination, South Africa (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea totaled +14.7%.

In value terms, South Korea ($X) remains the key foreign market for precious metal ore and concentrate exports from Brazil, comprising 92% of total exports. The second position in the ranking was taken by South Africa ($X), with a 7.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +30.1%.

Export Prices by Country

In 2021, the average export price for precious metal ores and concentrates amounted to $X per ton, surging by 66% against the previous year. Over the period under review, the export price saw a remarkable increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 86%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was South Africa ($X per ton), while the average price for exports to South Korea stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+41.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into Brazil

In 2021, purchases abroad of precious metal ores and concentrates increased by 20% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 65% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports expanded significantly to $X in 2021. Over the period under review, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 44%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Australia (X tons) was the main precious metal ore and concentrate supplier to Brazil, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia was relatively modest.

In value terms, Australia ($X) constituted the largest supplier of precious metal ore and concentrate to Brazil.

From 2012 to 2021, the average annual growth rate of value from Australia stood at -5.1%.

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2021, declining by -9.4% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to -3.2% per year.

Source: IndexBox Market Intelligence Platform

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