CIS: Platinum Market 2022

Platinum Market Size in CIS

The CIS platinum market reached $X in 2021, approximately reflecting the previous year. Overall, consumption, however, showed a noticeable descent. The growth pace was the most rapid in 2019 with an increase of 7.9%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Platinum Production in CIS

In value terms, platinum production fell modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 11%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports in CIS

In 2021, the amount of platinum exported in the CIS contracted to X tons, which is down by -7.5% against the previous year. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 286% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, platinum exports rose markedly to $X in 2021. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 189% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Russia (X tons), together recording 99% of total export.

Russia was also the fastest-growing in terms of the platinum exports, with a CAGR of +28.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest platinum supplier in the CIS.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +23.9%.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per kg, with an increase of 20% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the export prices hit record highs at $X per kg 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 Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to -3.4% per year.

Platinum Imports

Imports in CIS

After two years of decline, purchases abroad of platinum increased by 626% to X tons in 2021. In general, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, platinum imports skyrocketed to $X in 2021. Overall, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 165% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

Azerbaijan dominates imports structure, accounting for X tons, which was approx. 79% of total imports in 2021. Kazakhstan (X tons) took the second position in the ranking, followed by Belarus (X kg) and Uzbekistan (X kg). All these countries together held near 18% share of total imports. Russia (X kg) followed a long way behind the leaders.

Azerbaijan was also the fastest-growing in terms of the platinum imports, with a CAGR of +168.5% from 2012 to 2021. At the same time, Kazakhstan (+46.9%), Russia (+29.8%), Belarus (+6.2%) and Uzbekistan (+1.7%) displayed positive paces of growth. Azerbaijan (+79 p.p.) and Kazakhstan (+4.6 p.p.) significantly strengthened its position in terms of the total imports, while Belarus and Uzbekistan saw its share reduced by -34.9% and -47.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest platinum importing markets in the CIS were Uzbekistan ($X), Russia ($X) and Belarus ($X), with a combined 93% share of total imports.

Among the main importing countries, Russia, with a CAGR of +38.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per kg in 2021, declining by -79% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 393%. The level of import peaked at $X per kg in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per kg), while Azerbaijan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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