Malaysia: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Malaysia

In 2021, the Malaysian market for precious metal ores and concentrates decreased by -8% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, saw a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Production of Precious Metal Ores And Concentrates in Malaysia

In value terms, precious metal ore and concentrate production contracted to $X in 2021 estimated in export price. In general, production, however, saw a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 31%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Malaysia

In 2021, exports of precious metal ores and concentrates from Malaysia skyrocketed to X tons, surging by 266% on the previous year's figure. In general, exports recorded a strong expansion. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports soared to $X in 2021. Overall, exports, however, showed a abrupt setback. The exports peaked at $X in 2019; however, from 2020 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 Malaysia, accounting for a 92% share of total exports. Moreover, precious metal ore and concentrate exports to China exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Japan (+48.1% per year).

In value terms, China ($X) remains the key foreign market for precious metal ore and concentrate exports from Malaysia, comprising 77% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+30.4% per year) and India (0.0% per year).

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2021, which is down by -12.9% against the previous year. In general, the export price saw a deep setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 14%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-11.8%).

Imports of Precious Metal Ores And Concentrates

Imports into Malaysia

In 2021, imports of precious metal ores and concentrates into Malaysia fell dramatically to X tons, shrinking by -23.5% compared with the year before. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 1,052%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, precious metal ore and concentrate imports shrank to $X in 2021. Over the period under review, imports, however, showed significant growth. The growth pace was the most rapid in 2018 with an increase of 772%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) constituted the largest precious metal ore and concentrate supplier to Malaysia, with a 33% share of total imports. Moreover, precious metal ore and concentrate imports from Australia exceeded the figures recorded by the second-largest supplier, Greece (X tons), twofold. The third position in this ranking was taken by Turkey (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+71.8% per year) and Turkey (-33.4% per year).

In value terms, Australia ($X) constituted the largest supplier of precious metal ore and concentrate to Malaysia, comprising 60% of total imports. The second position in the ranking was held by the United States ($X), with an 8.6% share of total imports. It was followed by Saudi Arabia, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from Australia totaled +34.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+156.5% per year) and Saudi Arabia (0.0% per year).

Import Prices by Country

In 2021, the average import price for precious metal ores and concentrates amounted to $X per ton, picking up by 28% against the previous year. In general, the import price showed a strong expansion. The pace of growth appeared the most rapid in 2015 an increase of 52%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average 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 Australia ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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