Based on these data released by the Ministry of Mining, exports of mining products accounted for 4.2% of total Argentine exports in July. In the seventh month of the year, shipments of minerals abroad registered a year-on-year growth of 15%.
Likewise, the accumulated figure was 7% above the average level from 2010 to 2021 for the first seven months of the year. Of the total exported during July, US$196 million correspond to metallic minerals, which represented a year-on-year drop of 12% for this category.
This class of products represented 67% of the total mining exports of the month, highlighting the participation of gold with US$128 million (44% of the total) and silver with US$64 million (22% of the total exported). The remaining US$3 million (1% of the total exported) was explained by other metalliferous minerals (mainly ferroalloys).
In July, gold exports showed a year-on-year drop of 18%, equivalent to US$29 million, which is largely explained by an effect on quantities, which fell 46%, while prices also showed a downward trend.
On the part of silver, in July exports fell by 4% year-on-year (US$ 2 million), due to the drop in its international price, since quantities increased by 3% year-on-year. In the accumulated of the seven months, metalliferous minerals added exports for US$1,793 million.
This implies a year-on-year growth of 19%, where gold contributed US$1,274 million (58% of the total exported), silver US$482 million (22% of the total exported) and the rest of the metal ores US$36 million ( 2% of the total exported).
This allowed this item to represent 81% of total mining exports. In this way, in the first seven months of the year, gold shows an interannual growth of 22% in the amounts exported, while silver grew by 15% interannual.
In the case of lithium, in July, US$83.9 million were exported, surpassing the previous record amount of June this year. This implied a growth of 459% year-on-year, and for the first time since February 2008, lithium exports exceeded those of silver. Thus, lithium explained 29% of total mineral exports in July.
This strong year-on-year increase is explained by an effect on prices, given that the quantities exported in July fell by 6%. In the accumulated of the first seven months, lithium sales abroad reached US$ 335 million, growing 203% year-on-year and representing 15% of total mining exports.
Regarding the quantities exported of lithium, in the accumulated of the year they exhibited a fall of 6%. The result of lithium exports for July is the highest on record, both the monthly comparison and the accumulated comparison against 2021, making 2022 the year with the highest foreign exchange contributed by lithium exports.
Source: Ambito
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