Ireland: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Ireland

The Irish market for precious metal ores and concentrates expanded sharply to $X in 2021, with an increase of 12% against the previous year. Over the period under review, consumption enjoyed a significant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Ireland

In value terms, precious metal ore and concentrate production rose rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a significant expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 121% against the previous year. Precious metal ore and concentrate production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports from Ireland

In 2021, approx. X kg of precious metal ores and concentrates were exported from Ireland; remaining relatively unchanged against the year before. In general, exports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 925%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate exports amounted to $X in 2021. Over the period under review, exports showed a precipitous setback. The pace of growth appeared the most rapid in 2017 when exports increased by 526% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X kg) and the United States (X kg) were the main destinations of precious metal ore and concentrate exports from Ireland.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +63.1%).

From 2012 to 2021, the average annual growth rate of value to the UK totaled -31.2%.

Export Prices by Country

In 2021, the average export price for precious metal ores and concentrates amounted to $X per ton, flattening at the previous year. In general, the export price enjoyed measured growth. The growth pace was the most rapid in 2016 when the average export price increased by 113%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+8.3%).

Imports of Precious Metal Ores And Concentrates

Imports into Ireland

For the fourth consecutive year, Ireland recorded decline in purchases abroad of precious metal ores and concentrates, which decreased by -87.6% to X kg in 2021. Overall, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2017 when imports increased by 22% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports fell significantly to $X in 2021. In general, imports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 30% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Kazakhstan (X kg) constituted the largest precious metal ore and concentrate supplier to Ireland, with a 68% share of total imports. Moreover, precious metal ore and concentrate imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, the United States (X kg), fivefold. The third position in this ranking was taken by Germany (X kg), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Kazakhstan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-37.7% per year) and Germany (-37.1% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of precious metal ore and concentrate to Ireland, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Kazakhstan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-40.6% per year) and Germany (-20.8% per year).

Import Prices by Country

In 2021, the average import price for precious metal ores and concentrates amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last nine years, it increased at an average annual rate of +4.6%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 81%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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