Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the United States - 2023
Contents:
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (CIF) - 2023
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (FOB) - 2023
- Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States
- Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (CIF) - 2023
In September 2023, the average import price for articles of precious metal or of metal clad with precious metal amounted to $7.1M per ton, dropping by -13% against the previous month. Overall, the import price, however, saw buoyant growth. The growth pace was the most rapid in March 2023 when the average import price increased by 328% against the previous month. The import price peaked at $12.7M per ton in April 2023; afterwards, it flattened through to September 2023.
Prices varied noticeably by the country of origin: the country with the highest price was South Africa ($62.5M per ton), while the price for Italy ($738K per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Turkey (+54.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (FOB) - 2023
In September 2023, the average export price for articles of precious metal or of metal clad with precious metal amounted to $32.9M per ton, rising by 96% against the previous month. Overall, the export price, however, saw a noticeable slump. The export price peaked at $43.5M per ton in December 2022; afterwards, it flattened through to September 2023.
There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Switzerland ($60.0M per ton), while the average price for exports to South Korea ($6.2M per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States
In 2022, imports of articles of precious metal or of metal clad with precious metal into the United States skyrocketed to 3K tons, with an increase of 130% compared with 2021 figures. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 854% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, imports of articles of precious metal or of metal clad with precious metal surged to $16.8B in 2022. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 1,532% against the previous year. As a result, imports reached the peak of $26.3B. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 0.3 | 14.4 | 5.9 | 9.1 | 211.9% |
| Canada | 1.1 | 1.6 | 1.9 | 1.8 | 17.8% |
| United Kingdom | N/A | 0.4 | 0.1 | 1.0 | 58.1% |
| Turkey | N/A | 0.4 | 0.1 | 0.5 | 11.8% |
| Singapore | N/A | 2.4 | N/A | 0.5 | -54.4% |
| South Korea | N/A | 0.2 | 0.3 | 0.2 | 0.0% |
| Kazakhstan | N/A | 0.1 | 0.1 | 0.2 | 41.4% |
| Others | 0.2 | 6.8 | 1.4 | 3.4 | 157.1% |
| Total | 1.6 | 26.3 | 9.8 | 16.8 | 119.0% |
Top Suppliers of Articles of Precious Metal or of Metal Clad with Precious Metal to the United States in 2022:
- United Kingdom (969.9 tons)
- Switzerland (581.2 tons)
- South Korea (288.7 tons)
- Singapore (262.1 tons)
- Canada (209.9 tons)
- Turkey (182.6 tons)
- Kazakhstan (106.2 tons)
Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States
In 2022, approx. 116 tons of articles of precious metal or of metal clad with precious metal were exported from the United States; picking up by 79% compared with the year before. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 100%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, exports of articles of precious metal or of metal clad with precious metal surged to $2.2B in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 111% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Articles of Precious Metal or of Metal Clad with Precious Metal in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 126 | 288 | 722 | 640 | 71.9% |
| Canada | 100 | 330 | 465 | 586 | 80.3% |
| South Korea | 2.4 | 9.5 | 51.8 | 362 | 432.3% |
| Taiwan (Chinese) | 15.6 | 71.5 | 169 | 264 | 156.7% |
| Mexico | 35.4 | 32.0 | 40.5 | 49.4 | 11.7% |
| Germany | 54.2 | 14.5 | 32.9 | 43.3 | -7.2% |
| China | 17.3 | 51.8 | 47.9 | 42.5 | 34.9% |
| Hong Kong SAR | 17.0 | 49.6 | 30.3 | 39.4 | 32.3% |
| Others | 90.1 | 120 | 213 | 212 | 33.0% |
| Total | 458 | 968 | 1,773 | 2,239 | 69.7% |
Top Export Markets for Articles of Precious Metal or of Metal Clad with Precious Metal from the United States in 2022:
- Canada (69.4 tons)
- South Korea (12.5 tons)
- Singapore (8.0 tons)
- Taiwan (Chinese) (4.5 tons)
- Mexico (4.1 tons)
- Hong Kong SAR (4.1 tons)
- China (2.8 tons)
- Germany (1.6 tons)
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