South Africa: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in South Africa

In 2022, the South African market for precious metal ores and concentrates decreased by X% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption faced a significant decline. Precious metal ore and concentrate consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Precious Metal Ores And Concentrates in South Africa

In value terms, precious metal ore and concentrate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

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Exports of Precious Metal Ores And Concentrates

Exports from South Africa

In 2022, overseas shipments of precious metal ores and concentrates increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, precious metal ore and concentrate exports rose remarkably to $X in 2022. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

The UK (X tons) was the main destination for precious metal ore and concentrate exports from South Africa, with a X% share of total exports. Moreover, precious metal ore and concentrate exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Germany ($X) remains the key foreign market for precious metal ores and concentrates exports from South Africa, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, saw a temperate increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into South Africa

In 2022, overseas purchases of precious metal ores and concentrates were finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports skyrocketed to $X in 2022. Overall, imports, however, showed a dramatic decrease. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Canada (X tons), Germany (X tons) and Zimbabwe (X tons) were the main suppliers of precious metal ore and concentrate imports to South Africa, together comprising X% of total imports. These countries were followed by Burkina Faso, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest precious metal ore and concentrate suppliers to South Africa were Burkina Faso ($X), Canada ($X) and Germany ($X), with a combined X% share of total imports.

Burkina Faso, with a CAGR of X.1%, recorded the highest growth rate of the value of imports, among 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 import price for precious metal ores and concentrates stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price recorded a measured expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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