Romania: Market for Precious Metal Ores And Concentrates 2023

Market Size for Precious Metal Ores And Concentrates in Romania

In 2021, the Romanian market for precious metal ores and concentrates decreased by -7.5% to $X for the first time since 2013, thus ending a seven-year rising trend. Overall, consumption, however, continues to indicate significant growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of Precious Metal Ores And Concentrates in Romania

In value terms, precious metal ore and concentrate production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 46%. Precious metal ore and concentrate production peaked at $X in 2020, and then shrank in the following year.

Exports of Precious Metal Ores And Concentrates

Exports from Romania

In 2021, overseas shipments of precious metal ores and concentrates increased by 252% to X tons, rising for the third consecutive year after four years of decline. Overall, exports, however, recorded a abrupt decline. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports fell to $X in 2021. In general, exports, however, faced a sharp decline. The pace of growth appeared the most rapid in 2013 with an increase of 74%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for precious metal ore and concentrate exports from Romania, with a 89% share of total exports. Moreover, precious metal ore and concentrate exports to South Korea exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +20.0%.

In value terms, South Korea ($X) remains the key foreign market for precious metal ore and concentrate exports from Romania, comprising 62% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 3.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea amounted to -12.0%.

Export Prices by Country

In 2021, the average export price for precious metal ores and concentrates amounted to $X per ton, waning by -72.7% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 15%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-6.3%).

Imports of Precious Metal Ores And Concentrates

Imports into Romania

For the third consecutive year, Romania recorded decline in supplies from abroad of precious metal ores and concentrates, which decreased by -59.7% to X kg in 2021. Overall, imports faced a sharp descent. The pace of growth appeared the most rapid in 2015 with an increase of 136% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports contracted dramatically to $X in 2021. Over the period under review, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2015 when imports increased by 375%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) constituted the largest supplier of precious metal ore and concentrate to Romania, accounting for a 72% share of total imports. Moreover, precious metal ore and concentrate imports from the United States exceeded the figures recorded by the second-largest supplier, Mali (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mali (0.0% per year) and Italy (0.0% per year).

In value terms, Italy ($X) constituted the largest supplier of precious metal ore and concentrate to Romania, comprising 66% of total imports. The second position in the ranking was held by the United States ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Mali (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, waning by -79.7% against the previous year. In general, the import price, however, recorded significant growth. The pace of growth appeared the most rapid in 2014 an increase of 393% against the previous year. The import price peaked at $X per ton in 2020, and then dropped remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+338.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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