China: Silver Market 2022

Silver Market Size in China

The Chinese silver market declined sharply to $X in 2021, with a decrease of -X% against the previous year. Overall, consumption showed a deep slump. Silver consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Silver Production in China

In value terms, silver production amounted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Silver production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Silver Exports

Exports from China

For the third year in a row, China recorded growth in shipments abroad of silver including silver plated with gold or platinum, which increased by X% to X tons in 2021. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, silver exports surged to $X in 2021. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tons) was the main destination for silver exports from China, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to +X%.

In value terms, Hong Kong SAR ($X) also remains the key foreign market for silver exports from China.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR stood at +X%.

Export Prices by Country

The average silver export price stood at $X per ton in 2021, shrinking by -X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to -X% per year.

Silver Imports

Imports into China

In 2021, the amount of silver including silver plated with gold or platinum imported into China reached X tons, with an increase of X% compared with 2020. In general, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silver imports skyrocketed to $X in 2021. Over the period under review, imports saw resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of silver to China, with a X% share of total imports. Moreover, silver imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), tenfold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and the United States (+X% per year).

In value terms, Japan ($X) constituted the largest supplier of silver to China, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and South Korea (-X% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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