
South Africa - Precious Metal Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
South Africa: Market for Precious Metal Ores And Concentrates 2023
Market Size for Precious Metal Ores And Concentrates in South Africa
In 2021, after four years of growth, there was significant decline in the South African market for precious metal ores and concentrates, when its value decreased by -49% to $X. Overall, consumption showed a deep reduction. Precious metal ore and concentrate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.
Production of Precious Metal Ores And Concentrates in South Africa
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, recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 108% against the previous year. Precious metal ore and concentrate production peaked at $X in 2020, and then dropped in the following year.
Exports of Precious Metal Ores And Concentrates
Exports from South Africa
In 2021, after three years of decline, there was significant growth in shipments abroad of precious metal ores and concentrates, when their volume increased by 1,266% to X tons. Overall, exports recorded a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, precious metal ore and concentrate exports surged to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Exports by Country
The UK (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) were the main destinations of precious metal ore and concentrate exports from South Africa, with a combined 98% share of total exports.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +241.3%), while the other leaders experienced more modest paces of growth.
In value terms, Germany ($X) remains the key foreign market for precious metal ore and concentrate exports from South Africa, comprising 86% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with a 1.3% share.
From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-10.6% per year) and Taiwan (Chinese) (+318.7% per year).
Export Prices by Country
In 2021, the average export price for precious metal ores and concentrates amounted to $X per ton, declining by -20.1% against the previous year. Overall, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 160% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($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 India (+16,601.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Precious Metal Ores And Concentrates
Imports into South Africa
In 2021, the amount of precious metal ores and concentrates imported into South Africa declined sharply to X tons, reducing by -77.8% against 2020. Overall, imports saw a dramatic decrease. The most prominent rate of growth was recorded in 2020 with an increase of 400%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.
In value terms, precious metal ore and concentrate imports contracted to $X in 2021. Over the period under review, imports recorded a precipitous shrinkage. The smallest decline of -8.6% was in 2020. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.
Imports by Country
Australia (X tons), Zimbabwe (X tons) and Germany (X tons) were the main suppliers of precious metal ore and concentrate imports to South Africa, with a combined 76% share of total imports. These countries were followed by Canada, Finland, Zambia and Burkina Faso, which together accounted for a further 19%.
From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +80.7%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Australia ($X) constituted the largest supplier of precious metal ore and concentrate to South Africa, comprising 32% of total imports. The second position in the ranking was held by Zimbabwe ($X), with a 14% share of total imports. It was followed by Germany, with an 8% share.
From 2012 to 2021, the average annual growth rate of value from Australia totaled -33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Zimbabwe (-59.9% per year) and Germany (+70.2% per year).
Import Prices by Country
The average import price for precious metal ores and concentrates stood at $X per ton in 2021, increasing by 310% against the previous year. Overall, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 342% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Zambia ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for precious metal ore and concentrate in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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