Copper Pipe and Fitting Prices Skyrocket in Mexico, Surging by 702% to $14.8 per kg

Mexico Copper Pipe And Fitting Import Price in April 2023

In April 2023, the copper pipe and fitting price stood at $14,806 per ton (CIF, Mexico), increasing by 702% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $15,371 per ton in September 2022; however, from October 2022 to April 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($112K per ton), while the price for China ($11,905 per ton) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+16.5%), while the prices for the other major suppliers experienced a decline.

Mexico Copper Pipe And Fitting Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In April 2023, the product with the highest price was tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) ($31,152 per ton), while the price for tubes and pipes of refined copper ($11,667 per ton) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by brass tubes and pipes (+4.6%), while the prices for the other products experienced more modest paces of growth.

Mexico Copper Pipe And Fitting Imports

Copper pipe and fitting imports into Mexico reduced notably to 2.4K tons in April 2023, which is down by -89.1% on the month before. Overall, imports, however, posted a modest expansion. The pace of growth was the most pronounced in March 2023 when imports increased by 824% month-to-month. As a result, imports reached the peak of 22K tons, and then dropped remarkably in the following month.

In value terms, copper pipe and fitting imports dropped to $35M (IndexBox estimates) in April 2023. The total import value increased at an average monthly rate of +1.4% from April 2022 to April 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in July 2022 with an increase of 23% m-o-m.

Mexico Copper Pipe And Fitting Imports by Type

Tubes and pipes of refined copper (1.1K tons), tube or pipe fittings, couplings, elbows, sleeves of copper alloys (1.1K tons) and tube or pipe fittings, couplings, elbows, sleeves of refined copper (82 tons) were the main products of copper pipe and fitting imports to Mexico, together accounting for 96% of total imports. Tubes and pipes of copper-zinc base alloys (brass), tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) lagged somewhat behind, together comprising a further 4.5%.

From April 2022 to April 2023, the biggest increases were in brass tubes and pipes (with a CAGR of +3.4%), while purchases for the other products experienced more modest paces of growth.

In value terms, tube or pipe fittings, couplings, elbows, sleeves of copper alloys ($19M), tubes and pipes of refined copper ($13M) and tube or pipe fittings, couplings, elbows, sleeves of refined copper ($1.6M) constituted the most imported types of copper tubes, pipes and fitting in Mexico, together comprising 94% of total imports. Tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver, tubes and pipes of copper-zinc base alloys (brass) and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) lagged somewhat behind, together accounting for a further 5.9%.

Mexico Copper Pipe And Fitting Imports by Country

In April 2023, the United States (1.6K tons) constituted the largest supplier of copper pipe and fitting to Mexico, with a 65% share of total imports. Moreover, copper pipe and fitting imports from the United States exceeded the figures recorded by the second-largest supplier, China (670 tons), twofold. The third position in this ranking was taken by Thailand (78 tons), with a 3.3% share.

From April 2022 to April 2023, the average monthly growth rate of volume from the United States totaled +2.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-1.1% per month) and Thailand (+3.7% per month).

In value terms, the United States ($24M) constituted the largest supplier of copper pipe and fitting to Mexico, comprising 67% of total imports. The second position in the ranking was taken by China ($8M), with a 23% share of total imports. It was followed by Thailand, with a 2.6% share.

From April 2022 to April 2023, the average monthly growth rate of value from the United States totaled +2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-2.0% per month) and Thailand (+3.0% per month).

Source: IndexBox Market Intelligence Platform