Price for Platinum; Unwrought or in Semi-Manufactured Forms in Singapore - 2023

Contents:

1. Price for Platinum; Unwrought or in Semi-Manufactured Forms in Singapore (CIF) - 2022
2. Price for Platinum; Unwrought or in Semi-Manufactured Forms in Singapore (FOB) - 2022
3. Imports of Platinum; Unwrought or in Semi-Manufactured Forms in Singapore
4. Exports of Platinum; Unwrought or in Semi-Manufactured Forms in Singapore

Price for Platinum; Unwrought or in Semi-Manufactured Forms in Singapore (CIF) - 2022

The average import price for platinum; unwrought or in semi-manufactured formses stood at $14,719,697 per ton in 2022, growing by 19% against the previous year. Overall, the import price recorded a prominent increase. The growth pace was the most rapid in 2021 an increase of 57% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 the United States ($30,165,766 per ton), while the price for China ($1,731,313 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Platinum; Unwrought or in Semi-Manufactured Forms in Singapore (FOB) - 2022

In 2022, the average export price for platinum; unwrought or in semi-manufactured formses amounted to $15,919,162 per ton, declining by -8% against the previous year. Overall, the export price, however, recorded significant growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 105%. The export price peaked at $17,297,039 per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($96,221,990 per ton), while the average price for exports to Germany ($1,159,800 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 Italy (+78.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Platinum; Unwrought or in Semi-Manufactured Forms in Singapore

In 2022, after three years of growth, there was significant decline in supplies from abroad of platinum; unwrought or in semi-manufactured formses, when their volume decreased by -5.4% to 28 tons. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 89%.

In value terms, imports of platinum; unwrought or in semi-manufactured formses expanded rapidly to $416M in 2022. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 100% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Platinum; Unwrought or in Semi-Manufactured Forms to Singapore in 2022:

1. Taiwan (Chinese) (12.2 tons)
2. Japan (9.2 tons)
3. China (2.2 tons)
4. United States (1.9 tons)
5. Germany (1.3 tons)
6. South Korea (0.6 tons)
7. Switzerland (0.2 tons)

Exports of Platinum; Unwrought or in Semi-Manufactured Forms in Singapore

In 2022, the amount of platinum; unwrought or in semi-manufactured formses exported from Singapore amounted to 22 tons, surging by 13% on the year before. Overall, exports, however, continue to indicate a deep slump.

In value terms, exports of platinum; unwrought or in semi-manufactured formses amounted to $357M in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 69%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in years to come.

Top Export Markets for Platinum; Unwrought or in Semi-Manufactured Forms from Singapore in 2022:

1. Japan (9.2 tons)
2. Germany (4.3 tons)
3. Taiwan (Chinese) (2.8 tons)
4. Hong Kong SAR (1.6 tons)
5. United States (1.1 tons)
6. Italy (0.5 tons)
7. China (0.5 tons)
8. United Kingdom (0.4 tons)
9. Indonesia (0.2 tons)

Source: IndexBox Market Intelligence Platform