Price for Metals; Palladium, Unwrought or in Powder Form in the UK - 2024

Contents:

1. Price for Metals; Palladium, Unwrought or in Powder Form in the UK (FOB) - 2024
2. Price for Metals; Palladium, Unwrought or in Powder Form in the UK (CIF) - 2024
3. Exports of Metals; Palladium, Unwrought or in Powder Form in the UK
4. Imports of Metals; Palladium, Unwrought or in Powder Form in the UK

Price for Metals; Palladium, Unwrought or in Powder Form in the UK (FOB) - 2024

The average export price for metals; palladium, unwrought or in powder forms stood at $48.3M per ton in June 2023, declining by -5.2% against the previous month. In general, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 8.9% month-to-month. The export price peaked at $58.1M per ton in January 2023; however, from February 2023 to June 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($71.0M per ton), while the average price for exports to Ireland ($44.4M per ton) was amongst the lowest.

From January 2023 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.8%), while the prices for the other major destinations experienced a decline.

Price for Metals; Palladium, Unwrought or in Powder Form in the UK (CIF) - 2024

The average import price for metals; palladium, unwrought or in powder forms stood at $47.6M per ton in June 2023, falling by -3% against the previous month. Over the period under review, the import price saw a pronounced contraction. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 3.7% month-to-month. Over the period under review, average import prices reached the maximum at $57.2M per ton in January 2023; however, from February 2023 to June 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In June 2023, the countries with the highest prices were Italy ($51.3M per ton) and Germany ($48.8M per ton), while the price for South Korea ($45.5M per ton) and Japan ($46.6M per ton) were amongst the lowest.

From January 2023 to June 2023, the most notable rate of growth in terms of prices was attained by Italy (-1.6%), while the prices for the other major suppliers experienced a decline.

Exports of Metals; Palladium, Unwrought or in Powder Form in the UK

In 2022, shipments abroad of metals; palladium, unwrought or in powder forms increased by 14% to 49 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a perceptible curtailment.

In value terms, exports of metals; palladium, unwrought or in powder forms expanded to $3.3B in 2022. The total export value increased at an average annual rate of +7.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 37% against the previous year. As a result, the exports reached the peak of $3.7B. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Metals; Palladium, Unwrought or in Powder Form from the UK in 2022:

1. North Macedonia (14.9 tons)
2. Germany (8.3 tons)
3. Japan (5.7 tons)
4. Poland (3.3 tons)
5. South Korea (3.1 tons)
6. Italy (2.6 tons)
7. Ireland (2.4 tons)
8. India (1.3 tons)
9. Spain (1.3 tons)
10. Hong Kong SAR (1.3 tons)
11. Switzerland (1.1 tons)
12. Argentina (1.0 tons)
13. China (0.7 tons)

Imports of Metals; Palladium, Unwrought or in Powder Form in the UK

In 2022, supplies from abroad of metals; palladium, unwrought or in powder forms decreased by -5.5% to 38 tons, falling for the second consecutive year after two years of growth. In general, imports showed a noticeable curtailment. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of 58 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of metals; palladium, unwrought or in powder forms reduced to $2.6B in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 71%.

Top Suppliers of Metals; Palladium, Unwrought or in Powder Form to the UK in 2022:

1. South Africa (10.2 tons)
2. Belgium (5.3 tons)
3. Italy (5.2 tons)
4. United States (4.0 tons)
5. Switzerland (4.0 tons)
6. Norway (3.2 tons)
7. South Korea (2.3 tons)
8. Germany (1.5 tons)
9. Russia (1.4 tons)

Source: IndexBox Market Intelligence Platform