CIS: Platinum Market 2024

Platinum Market Size in CIS

The CIS platinum market declined slightly to $X.6B in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption recorded a pronounced decline. Over the period under review, the market hit record highs at $X.5B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Platinum Production in CIS

In value terms, platinum production contracted slightly to $X.6B in 2022 estimated in export price. In general, production continues to indicate a perceptible reduction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X.1B in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Platinum Exports

Exports in CIS

For the third year in a row, the CIS recorded decline in shipments abroad of platinum, which decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, platinum exports reduced notably to $X in 2022. Overall, exports, however, saw a notable expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Russia (X tons) represented roughly X% of total exports in 2022.

Russia was also the fastest-growing in terms of the platinum exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest platinum supplier in the CIS.

From 2012 to 2022, the average annual growth rate of value in Russia stood at X%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per kg, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per kg in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Platinum Imports

Imports in CIS

In 2022, purchases abroad of platinum decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, platinum imports shrank dramatically to $X in 2022. In general, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of import peaked at $X in 2021, and then plummeted in the following year.

Imports by Country

In 2022, Belarus (X tons) represented the largest importer of platinum, constituting X% of total imports. It was distantly followed by Uzbekistan (X kg) and Russia (X kg), together achieving a X% share of total imports. The following importers - Kazakhstan (X kg) and Azerbaijan (X kg) - each accounted for a X% share of total imports.

Imports into Belarus increased at an average annual rate of X% from 2012 to 2022. At the same time, Azerbaijan (X%) and Russia (X%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. Uzbekistan experienced a relatively flat trend pattern. By contrast, Kazakhstan (X%) illustrated a downward trend over the same period. Uzbekistan (X p.p.) significantly strengthened its position in terms of the total imports, while Russia, Belarus and Kazakhstan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X), Belarus ($X) and Russia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Azerbaijan and Kazakhstan lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Azerbaijan, with a CAGR of X%, recorded 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 import price in the CIS stood at $X per kg in 2022, declining by X% against the previous year. Overall, the import price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked at $X per kg in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per kg), while Kazakhstan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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