Report Update: Apr 1, 2024

Republic of Korea - Precious Metal Ores And Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Price for Precious Metal Ore and Concentrate in South Korea - 2022

Price for Precious Metal Ore and Concentrate in South Korea (CIF) - 2022

The average import price for precious metal ores and concentrates stood at $4,881 per ton in December 2022, shrinking by -4.9% against the previous month. Over the period under review, the import price showed a mild downturn. The most prominent rate of growth was recorded in January 2022 an increase of 23% against the previous month. Over the period under review, average import prices reached the peak figure at $7,768 per ton in May 2022; however, from June 2022 to December 2022, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Papua New Guinea ($9,574 per ton), while the price for Bolivia ($2,533 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+1.1%), while the prices for the other major suppliers experienced a decline.

Price for Precious Metal Ore and Concentrate in South Korea (FOB) - 2022

In 2022, the average export price for precious metal ores and concentrates amounted to $6,067 per ton, picking up by 2,481% against the previous year. Overall, the export price saw significant growth. Over the period under review, the average export prices reached the peak figure at $6,593 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($42,067 per ton), while the average price for exports to China ($3,036 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 China (+15.3%), while the prices for the other major destinations experienced a decline.

Imports of Precious Metal Ore and Concentrate in South Korea

Precious metal ore and concentrate imports into South Korea amounted to 44K tons in 2022, rising by 11% against the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, precious metal ore and concentrate imports dropped to $356M in 2022. The total import value increased at an average annual rate of +8.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 19% against the previous year.

Import of Precious Metal Ore and Concentrate in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Uruguay	N/A	21.8	6.1	95.4	109.2%
Papua New Guinea	N/A	13.5	54.6	83.9	149.3%
Mexico	119	108	104	63.9	-18.7%
Peru	41.1	44.0	75.4	44.4	2.6%
Argentina	83.0	117	111	35.8	-24.4%
Bolivia	18.1	6.1	1.0	13.6	-9.1%
Brazil	3.0	1.3	3.2	3.1	1.1%
Others	14.4	21.2	13.9	15.6	2.7%
Total	279	333	369	356	8.5%

Top Suppliers of Precious Metal Ore and Concentrate to South Korea in 2022:

Mexico (11.7K tons)
Uruguay (10.6K tons)
Peru (9.8K tons)
Argentina (6.1K tons)
Papua New Guinea (2.7K tons)
Bolivia (1.8K tons)
Brazil (0.6K tons)

Exports of Precious Metal Ore and Concentrate in South Korea

In 2022, exports of precious metal ores and concentrates from South Korea stood at 1.2K tons, increasing by 13% compared with the previous year's figure. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 5,374%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, precious metal ore and concentrate exports skyrocketed to $7.4M in 2022. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Precious Metal Ore and Concentrate in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	N/A	N/A	N/A	3,692	0%
China	N/A	N/A	N/A	3,184	0%
Japan	126	N/A	58.6	524	60.8%
Vietnam	N/A	30.1	78.5	N/A	160.8%
Indonesia	N/A	N/A	116	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	126	30.1	253	7,400	288.7%

Top Export Markets for Precious Metal Ore and Concentrate from South Korea in 2022:

China (1048.9 tons)
United Arab Emirates (87.8 tons)
Japan (83.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for precious metal ore and concentrate in Republic of Korea. 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.

Product coverage:

Prodcom 07291400 - Precious metal ores and concentrates

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023