Australia: Platinum Market 2024

Platinum Market Size in Australia

The Australian platinum market fell to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a slight setback. Platinum consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Platinum Production in Australia

In value terms, platinum production reduced sharply to $X in 2022 estimated in export price. In general, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Platinum production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Platinum Exports

Exports from Australia

In 2022, shipments abroad of platinum decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, platinum exports dropped notably to $X in 2022. Overall, exports saw a slight curtailment. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then fell dramatically in the following year.

Exports by Country

The UK (X tons) was the main destination for platinum exports from Australia, accounting for a X% share of total exports. Moreover, platinum exports to the UK exceeded the volume sent to the second major destination, Germany (X kg), threefold. South Korea (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and South Korea (X% per year).

In value terms, the UK ($X) emerged as the key foreign market for platinum exports from Australia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average platinum export price amounted to $X per kg, rising by X% against the previous year. Overall, the export price recorded a prominent expansion. Over the period under review, the average export prices attained the peak figure at $X per kg in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Imports

Imports into Australia

Platinum imports into Australia soared to X tons in 2022, with an increase of X% on the year before. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, platinum imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed prominent growth. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X tons) constituted the largest platinum supplier to Australia, with a X% share of total imports. Moreover, platinum imports from the UK exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), twofold. Germany (X kg) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the UK amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Germany (X% per year).

In value terms, the UK ($X) constituted the largest supplier of platinum to Australia, comprising X% of total imports. The second position in the ranking was taken by Switzerland ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Germany (X% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, waning by X% against the previous year. Over the period under review, the import price, however, showed a prominent increase. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per kg in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per kg), while the price for Hong Kong SAR ($X per kg) was amongst the lowest.

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

Source: IndexBox Platform

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