According to SeaNews Russian Foreign Trade Customs Statistics online service, the export of platinum group metals from Russia in 2019 amounted to 112.4 tons (-15.5% year-on-year) worth $5.1 bn (+40.2%).
In 2019, platinum group metals were shipped from Russia to 20 countries. The major importers were the USA, the UK, Japan, Germany and Italy. Almost all shipments (both in physical and monetary terms) were made from Moscow.
Metals of the platinum group are 6 metal elements: ruthenium, rhodium, palladium, osmium, iridium, and platinum proper. They have similar physical and chemical properties and are usually found in the same deposits. Platinum group metals are precious.
Platinum group metals are used both separately and in alloys. Platinum metal alloys are harder, stronger and more corrosion resistant than individual metals.
Since the mid-1970s, platinum and palladium have been used in the automotive industry. Due to their unique catalytic properties, these metals are used to purify exhaust gases in automobiles from harmful substances.
Platinum group metals are used to make details for mechanisms deployed in corrosive environments in various technological devices, reactors, electric heaters, high-temperature furnaces, etc. In electric engineering, they are used to produce contacts with a high degree of reliability. Magnetic alloys of these metals are used in manufacturing small-size electrical appliances. The catalytic properties of some metals of this group allow for their use as catalysts.
And, of course, platinum and other metals of the platinum group are used in jewelry, and as bank deposits by individuals and companies.
In 2019, platinum exports decreased by 48.7% to 23.1 tons in terms of tonnage and by 8.9% down to $627.1 mn in monetary terms. The major importing countries were the UK and Italy. Platinum was shipped mainly from Moscow.
Palladium export in 2019 amounted to 86.8 tons (+1.6%) worth $4.2 bn (+51%). Significant volumes were exported from Russia to the USA, Japan, Germany and the UK. Almost all shipments originated from Moscow.
Rhodium export made 1.9 tons (as much as in 2018) worth $224.3 mn (+71.1% year-on-year). The major importing countries were the USA and Italy, and Moscow was the main exporting region.
Iridium, osmium and ruthenium exports decreased by 57.1% down to 0.3 tons. In monetary terms, the export of these metals decreased by 23.7% down to $9 mn. The largest volumes were designated for Japan, the UK and Italy. Almost the entire volume was shipped from Moscow and Krasnoyarsk Kray.
Platinum group metals export from Russia to the USA dropped by 18% down to 27.4 tons in 2019. In monetary terms, by contrast, exports increased by 24.7% up to $1.4 mn. Moscow was the main exporting region.
Shipments to the UK amounted to 25.1 tons (+68.5%) worth $937.9 mn (up 2.1-fold). Most of the shipments originated from Moscow.
All shipments of platinum group metals to Japan originated from Moscow. In physical terms, exports decreased by 13.4% down to 18.1 tons, while in monetary terms they grew by 26.4% up to $871.7 mn.