Price for Precious Metal-Clad Jewelry of Base Metals in Mexico - 2023
Contents:
- Price for Precious Metal-Clad Jewelry of Base Metals in Mexico (CIF) - 2023
- Price for Precious Metal-Clad Jewelry of Base Metals in Mexico (FOB) - 2023
- Imports of Precious Metal-Clad Jewelry of Base Metals in Mexico
- Exports of Precious Metal-Clad Jewelry of Base Metals in Mexico
Price for Precious Metal-Clad Jewelry of Base Metals in Mexico (CIF) - 2023
The average import price for base metal jewelry clad with precious metals stood at $3,662 per ton in October 2023, reducing by -55.3% against the previous month. Over the period under review, the import price saw a sharp reduction. The most prominent rate of growth was recorded in February 2023 an increase of 144% against the previous month. The import price peaked at $44,339 per ton in December 2022; however, from January 2023 to October 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the United States ($91,436 per ton), while the price for China ($2,437 per ton) was amongst the lowest.
From December 2022 to October 2023, the most notable rate of growth in terms of prices was attained by India (-2.6%), while the prices for the other major suppliers experienced a decline.
Price for Precious Metal-Clad Jewelry of Base Metals in Mexico (FOB) - 2023
In October 2023, the average export price for base metal jewelry clad with precious metals amounted to $16,841 per ton, surging by 3.9% against the previous month. In general, the export price showed prominent growth. The pace of growth was the most pronounced in September 2023 when the average export price increased by 42% against the previous month. The export price peaked in October 2023.
As there is only one major export destination, the average price level is determined by prices for the United States.
From December 2022 to October 2023, the rate of growth in terms of prices for the United States amounted to +7.3% per month.
Imports of Precious Metal-Clad Jewelry of Base Metals in Mexico
Imports of base metal jewelry clad with precious metals into Mexico shrank to 72 tons in 2022, reducing by -1.8% against 2021. The total import volume increased at an average annual rate of +4.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 28%. As a result, imports attained the peak of 73 tons, and then shrank in the following year.
In value terms, imports of base metal jewelry clad with precious metals rose notably to $11M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +5.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 39% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Precious Metal-Clad Jewelry of Base Metals in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.9 | 2.5 | 4.4 | 4.7 | 17.5% |
| United States | 3.3 | 2.7 | 4.2 | 4.4 | 10.1% |
| Italy | 1.0 | 0.8 | 0.5 | 1.2 | 6.3% |
| India | 0.7 | 0.2 | 0.2 | 0.2 | -34.1% |
| Thailand | 0.8 | 0.4 | 0.2 | 0.2 | -37.0% |
| Others | 0.7 | 0.2 | N/A | 0.1 | -47.7% |
| Total | 9.3 | 6.8 | 9.5 | 10.7 | 4.8% |
Top Suppliers of Precious Metal-Clad Jewelry of Base Metals to Mexico in 2022:
- China (39.2 tons)
- United States (28.3 tons)
- Italy (1.5 tons)
- Thailand (1.3 tons)
- India (0.9 tons)
Exports of Precious Metal-Clad Jewelry of Base Metals in Mexico
In 2022, shipments abroad of base metal jewelry clad with precious metals was finally on the rise to reach 7.8 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt setback.
In value terms, exports of base metal jewelry clad with precious metals skyrocketed to $7.3M in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern.
| Export of Precious Metal-Clad Jewelry of Base Metals in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 7.3 | 6.1 | 4.3 | 7.3 | 0.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 7.3 | 6.1 | 4.3 | 7.3 | 0.0% |
Top Export Markets for Precious Metal-Clad Jewelry of Base Metals from Mexico in 2022:
- United States (7.8 tons)
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