Indonesia: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Indonesia

The Indonesian market for precious metal ores and concentrates was estimated at $X in 2021, picking up by 3% against the previous year. Overall, consumption continues to indicate a prominent expansion. Precious metal ore and concentrate consumption peaked in 2021 and is likely to see steady growth in the near future.

Production of Precious Metal Ores And Concentrates in Indonesia

In value terms, precious metal ore and concentrate production fell to $X in 2021 estimated in export price. Over the period under review, production saw a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 25%. Precious metal ore and concentrate production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Indonesia

In 2021, overseas shipments of precious metal ores and concentrates decreased by -24.1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2014 with an increase of 3,855%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports contracted markedly to $X in 2021. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 4,051% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for precious metal ore and concentrate exports from Indonesia, accounting for a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +23.2%.

In value terms, China ($X) also remains the key foreign market for precious metal ore and concentrate exports from Indonesia.

From 2012 to 2021, the average annual growth rate of value to China totaled +52.4%.

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2021, with a decrease of -8.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 10%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +23.7% per year.

Imports of Precious Metal Ores And Concentrates

Imports into Indonesia

For the fourth consecutive year, Indonesia recorded decline in purchases abroad of precious metal ores and concentrates, which decreased by -29.7% to X tons in 2021. Over the period under review, imports, however, saw a temperate expansion. The growth pace was the most rapid in 2017 when imports increased by 772%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, precious metal ore and concentrate imports declined significantly to $X in 2021. In general, imports recorded a slight decline. The growth pace was the most rapid in 2017 with an increase of 829% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest precious metal ore and concentrate supplier to Indonesia, accounting for a 75% share of total imports. Moreover, precious metal ore and concentrate imports from South Korea exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. The third position in this ranking was held by Australia (X kg), with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +125.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+193.6% per year) and Australia (-46.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of precious metal ore and concentrate to Indonesia, comprising 62% of total imports. The second position in the ranking was taken by Romania ($X), with an 18% share of total imports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from South Korea stood at +58.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+442.7% per year) and Singapore (-16.0% per year).

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2021, picking up by 6.5% against the previous year. In general, the import price, however, showed a drastic downturn. The growth pace was the most rapid in 2016 an increase of 17%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+107.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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