Price for Metals; Silver, Unwrought, (But Not Powder) in the UK - 2024
Contents:
- Price for Metals; Silver, Unwrought, (But Not Powder) in the UK (FOB) - 2022
- Price for Metals; Silver, Unwrought, (But Not Powder) in the UK (CIF) - 2024
- Exports of Metals; Silver, Unwrought, (But Not Powder) in the UK
- Imports of Metals; Silver, Unwrought, (But Not Powder) in the UK
Price for Metals; Silver, Unwrought, (But Not Powder) in the UK (FOB) - 2022
The average export price for metals; silver, unwrought, (but not powder) stood at $678,625 per ton in 2022, falling by -18.9% against the previous year. Overall, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2020 an increase of 37%. Over the period under review, the average export prices reached the maximum at $1,006,703 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($726,158 per ton) and Canada ($716,604 per ton), while the average price for exports to Belgium ($647,976 per ton) and India ($655,543 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.0%), while the prices for the other major destinations experienced a decline.
Price for Metals; Silver, Unwrought, (But Not Powder) in the UK (CIF) - 2024
The average import price for metals; silver, unwrought, (but not powder) stood at $792K per ton in December 2023, growing by 6.1% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 9.2% m-o-m. The import price peaked at $805K per ton in June 2023; however, from July 2023 to December 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the countries with the highest prices were Germany ($811K per ton) and Kazakhstan ($777K per ton), while the price for Spain ($730K per ton) and Taiwan (Chinese) ($737K per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by India (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Metals; Silver, Unwrought, (But Not Powder) in the UK
In 2022, the amount of metals; silver, unwrought, (but not powder) exported from the UK skyrocketed to 11K tons, jumping by 196% compared with the previous year. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of metals; silver, unwrought, (but not powder) soared to $7.6B in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 222% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in years to come.
| Export of Metals; Silver, Unwrought, (But Not Powder) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 787 | 121 | 754 | 3,632 | 66.5% |
| Canada | 105 | 1,759 | 1,576 | 1,514 | 143.4% |
| Switzerland | 17.5 | 291 | 191 | 901 | 272.0% |
| Turkey | N/A | 3.7 | N/A | 649 | 1224.4% |
| Germany | 23.4 | 143 | 325 | 310 | 136.6% |
| Italy | N/A | N/A | 11.9 | 248 | 1984.0% |
| Spain | N/A | 17.5 | 74.9 | 231 | 263.3% |
| United States | 0.1 | 844 | 118 | 115 | 947.7% |
| Others | 103 | 156 | 122 | 18.7 | -43.4% |
| Total | 1,036 | 3,335 | 3,173 | 7,619 | 94.5% |
Top Export Markets for Metals; Silver, Unwrought, (But Not Powder) from the UK in 2022:
- India (5.5K tons)
- Canada (2.1K tons)
- Switzerland (1.3K tons)
- Turkey (1.0K tons)
- Italy (0.4K tons)
- Germany (0.4K tons)
- Spain (0.3K tons)
- United States (0.2K tons)
Imports of Metals; Silver, Unwrought, (But Not Powder) in the UK
After three years of growth, purchases abroad of metals; silver, unwrought, (but not powder) decreased by -62.7% to 2.3K tons in 2022. In general, imports showed a deep reduction. The growth pace was the most rapid in 2021 when imports increased by 77% against the previous year. As a result, imports reached the peak of 6.3K tons, and then shrank markedly in the following year.
In value terms, imports of metals; silver, unwrought, (but not powder) dropped dramatically to $1.7B in 2022. Overall, imports, however, showed a slight increase. The growth pace was the most rapid in 2021 with an increase of 112% against the previous year. As a result, imports attained the peak of $5.1B, and then declined markedly in the following year.
| Import of Metals; Silver, Unwrought, (But Not Powder) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kazakhstan | 280 | 616 | 528 | 435 | 15.8% |
| Hong Kong SAR | N/A | 229 | 2,933 | 371 | 27.3% |
| Poland | 527 | 465 | 279 | 275 | -19.5% |
| Canada | 48.0 | 12.0 | N/A | 113 | 33.0% |
| Uzbekistan | 24.2 | 70.0 | 103 | 102 | 61.5% |
| United States | 1.0 | 29.7 | 1.4 | 70.7 | 313.5% |
| Germany | 384 | 89.5 | 22.7 | 54.3 | -47.9% |
| China | 0.2 | 273 | 193 | 53.8 | 545.5% |
| Sweden | 127 | 248 | 211 | 48.2 | -27.6% |
| Spain | N/A | 0.9 | 0.3 | 43.3 | 593.6% |
| Finland | 12.9 | 18.4 | 33.5 | 31.5 | 34.7% |
| Russia | 96.3 | 239 | 192 | 12.9 | -48.8% |
| Others | 70.4 | 129 | 627 | 44.9 | -13.9% |
| Total | 1,570 | 2,419 | 5,123 | 1,656 | 1.8% |
Top Suppliers of Metals; Silver, Unwrought, (But Not Powder) to the UK in 2022:
- Kazakhstan (638.0 tons)
- Hong Kong SAR (505.9 tons)
- Poland (390.6 tons)
- Canada (165.3 tons)
- Uzbekistan (140.1 tons)
- United States (101.6 tons)
- Germany (74.8 tons)
- China (69.4 tons)
- Sweden (67.6 tons)
- Spain (54.7 tons)
- Finland (44.6 tons)
- Russia (18.7 tons)
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In May 2023, the price of unwrought silver in the United Kingdom, CIF, increased by 11% to $754K per ton compared to the previous month.
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As a result, Silver exports reached the peak of 12K tons, but then contracted rapidly in the following year. In value terms, Silver exports fell dramatically to $2.8B in 2023.
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