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

Contents:

1. Price for Platinum; Unwrought or in Semi-Manufactured Forms in the UK (FOB) - 2023
2. Price for Platinum; Unwrought or in Semi-Manufactured Forms in the UK (CIF) - 2022
3. Exports of Platinum; Unwrought or in Semi-Manufactured Forms in the UK
4. Imports of Platinum; Unwrought or in Semi-Manufactured Forms in the UK

Price for Platinum; Unwrought or in Semi-Manufactured Forms in the UK (FOB) - 2023

The average export price for platinum; unwrought or in semi-manufactured formses stood at $31.4M per ton in December 2023, dropping by -16.8% against the previous month. In general, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 45% m-o-m. As a result, the export price reached the peak level of $74,543 per kg. From February 2023 to December 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Italy ($46.2M per ton), while the average price for exports to Germany ($27.1M per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+1.8%), while the prices for the other major destinations experienced a decline.

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

The average import price for platinum; unwrought or in semi-manufactured formses stood at $61,833,937 per ton in 2022, dropping by -12.4% against the previous year. Over the period under review, the import price, however, posted prominent growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 76%. Over the period under review, average import prices reached the peak figure at $70,612,510 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($105,922,958 per ton), while the price for the United States ($44,165,369 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Platinum; Unwrought or in Semi-Manufactured Forms in the UK

In 2022, shipments abroad of platinum; unwrought or in semi-manufactured formses decreased by -14.3% to 160 tons, falling for the second year in a row after two years of growth. In general, exports showed a slight decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 16%. As a result, the exports reached the peak of 193 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of platinum; unwrought or in semi-manufactured formses reduced dramatically to $9.4B in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 69% against the previous year.

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

1. North Macedonia (28.1 tons)
2. Hong Kong SAR (25.1 tons)
3. United States (17.8 tons)
4. Germany (16.4 tons)
5. China (15.7 tons)
6. Switzerland (13.0 tons)
7. Japan (10.9 tons)
8. South Korea (5.1 tons)
9. Poland (4.6 tons)
10. Ireland (4.0 tons)
11. Belgium (3.4 tons)
12. Italy (3.3 tons)
13. India (3.3 tons)

Imports of Platinum; Unwrought or in Semi-Manufactured Forms in the UK

In 2022, supplies from abroad of platinum; unwrought or in semi-manufactured formses decreased by -25.1% to 126 tons, falling for the second year in a row after two years of growth. Overall, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2020 when imports increased by 0.4% against the previous year. As a result, imports reached the peak of 190 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of platinum; unwrought or in semi-manufactured formses shrank rapidly to $7.8B in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +6.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 47% against the previous year.

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

1. South Africa (49.0 tons)
2. Belgium (13.6 tons)
3. Switzerland (13.0 tons)
4. United States (10.3 tons)
5. Italy (9.2 tons)
6. Russia (8.7 tons)
7. Germany (5.2 tons)
8. Japan (3.2 tons)

Source: IndexBox Market Intelligence Platform