Luxembourg: Platinum Market 2024

Platinum Market Size in Luxembourg

The Luxembourg platinum market totaled $X in 2022, stabilizing at the previous year. In general, consumption, however, faced a abrupt decrease. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Platinum Production in Luxembourg

In value terms, platinum production totaled $X in 2022 estimated in export price. Overall, production, however, faced a abrupt setback. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Platinum production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Platinum Exports

Exports from Luxembourg

In 2022, exports of platinum from Luxembourg reduced to X kg, falling by X% on the year before. Overall, exports saw a dramatic setback. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, platinum exports declined remarkably to $X in 2022. Over the period under review, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X kg) was the main destination for platinum exports from Luxembourg, with a X% share of total exports. It was followed by the UK (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled X%.

In value terms, Germany ($X) remains the key foreign market for platinum exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with less than X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled X%.

Export Prices by Country

The average platinum export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X,333 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X,744 per ton), while the average price for exports to the UK amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Luxembourg

In 2022, supplies from abroad of platinum increased by X% to X kg for the first time since 2017, thus ending a four-year declining trend. In general, imports showed buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, platinum imports surged to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X kg) was the main platinum supplier to Luxembourg, accounting for a X% share of total imports. Moreover, platinum imports from Germany exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), more than tenfold. The third position in this ranking was held by Italy (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Italy (X% per year).

In value terms, Germany ($X), Switzerland ($X) and France ($X) were the largest platinum suppliers to Luxembourg, with a combined X% share of total imports. Italy and Belgium lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, flattening at the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, platinum import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per kg. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for Germany ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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