United Kingdom: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in the UK

The UK market for precious metal ores and concentrates skyrocketed to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption recorded significant growth. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Production of Precious Metal Ores And Concentrates in the UK

In value terms, precious metal ore and concentrate production totaled less than $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume decreased by X% against the previous year. Precious metal ore and concentrate production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Exports of Precious Metal Ores And Concentrates

Exports from the UK

In 2022, shipments abroad of precious metal ores and concentrates increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, precious metal ore and concentrate exports surged to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for precious metal ore and concentrate exports from the UK, with a X% share of total exports. Moreover, precious metal ore and concentrate exports to Malaysia exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. The Netherlands (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for precious metal ores and concentrates exports from the UK, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

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

Imports of Precious Metal Ores And Concentrates

Imports into the UK

In 2022, approx. X tons of precious metal ores and concentrates were imported into the UK; growing by X% compared with 2021. Overall, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, precious metal ore and concentrate imports soared to $X in 2022. In general, imports showed strong growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Greece (X tons) constituted the largest precious metal ore and concentrate supplier to the UK, accounting for a X% share of total imports. Moreover, precious metal ore and concentrate imports from Greece exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. North Macedonia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and North Macedonia (X% per year).

In value terms, the largest precious metal ore and concentrate suppliers to the UK were South Africa ($X), Germany ($X) and Greece ($X), together accounting for X% of total imports.

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

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per kg in 2022, declining by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per kg, and then shrank markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%).

Source: IndexBox Platform

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