Canada: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Canada

The Canadian market for precious metal ores and concentrates fell modestly to $X in 2022, reducing by X% against the previous year. In general, consumption recorded a pronounced setback. Precious metal ore and concentrate consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Canada

In value terms, precious metal ore and concentrate production expanded to $X in 2022 estimated in export price. Overall, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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Exports of Precious Metal Ores And Concentrates

Exports from Canada

For the third year in a row, Canada recorded growth in shipments abroad of precious metal ores and concentrates, which increased by X% to X tons in 2022. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports reduced to $X in 2022. In general, exports posted buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Germany (X tons) was the main destination for precious metal ore and concentrate exports from Canada, with a X% share of total exports. Moreover, precious metal ore and concentrate exports to Germany exceeded the volume sent to the second major destination, Belgium (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at X%.

In value terms, Germany ($X) remains the key foreign market for precious metal ores and concentrates exports from Canada, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%.

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%).

Imports of Precious Metal Ores And Concentrates

Imports into Canada

In 2022, purchases abroad of precious metal ores and concentrates was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious metal ore and concentrate imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of precious metal ore and concentrate to Canada, with a X% share of total imports. Moreover, precious metal ore and concentrate imports from Ecuador exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Ecuador totaled X.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (X% per year) and Mexico (X% per year).

In value terms, the largest precious metal ore and concentrate suppliers to Canada were Ecuador ($X), Mexico ($X) and Peru ($X), together accounting for X% of total imports.

Ecuador, with a CAGR of X.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for precious metal ores and concentrates stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price posted a prominent expansion. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X,004 per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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