Africa: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Africa

The African copper ores and concentrates market skyrocketed to $X in 2021, increasing by 19% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Copper Ores And Concentrates in Africa

In value terms, copper ores and concentrates production soared to $X in 2021 estimated in export price. Over the period under review, production saw a mild curtailment. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Copper Ores And Concentrates

Exports in Africa

In 2021, copper ores and concentrates exports in Africa dropped rapidly to X tons, declining by -23.6% against 2020 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 50% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports dropped to $X in 2021. In general, exports saw a mild contraction. The pace of growth was the most pronounced in 2020 when exports increased by 46%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo represented the key exporting country with an export of about X tons, which recorded 42% of total exports. South Africa (X tons) ranks second in terms of the total exports with a 14% share, followed by Morocco (13%), Mauritania (12%), Eritrea (8.3%) and Botswana (4.6%). Zambia (X tons) followed a long way behind the leaders.

Exports from Democratic Republic of the Congo increased at an average annual rate of +5.0% from 2012 to 2021. At the same time, Eritrea (+13.0%), Morocco (+11.5%) and Zambia (+2.6%) displayed positive paces of growth. Moreover, Eritrea emerged as the fastest-growing exporter exported in Africa, with a CAGR of +13.0% from 2012-2021. By contrast, Botswana (-2.9%), Mauritania (-5.1%) and South Africa (-6.8%) illustrated a downward trend over the same period. While the share of Democratic Republic of the Congo (+13 p.p.), Morocco (+7.6 p.p.) and Eritrea (+5.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Botswana (-1.8 p.p.), Mauritania (-8.2 p.p.) and South Africa (-14.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X) remains the largest copper ores and concentrates supplier in Africa, comprising 37% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 14% share of total exports. It was followed by South Africa, with a 14% share.

In Democratic Republic of the Congo, copper ores and concentrates exports plunged by an average annual rate of -2.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritania (-2.1% per year) and South Africa (-8.0% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, with an increase of 24% against the previous year. Overall, the export price, however, recorded a pronounced decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Eritrea ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+4.4%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in Africa

In 2021, the amount of copper ores and concentrates imported in Africa shrank rapidly to X tons, falling by -47.7% on 2020. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 85%. Over the period under review, imports reached the maximum at X tons in 2020, and then shrank sharply in the following year.

In value terms, copper ores and concentrates imports dropped markedly to $X in 2021. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 65%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Zambia represented the largest importer of copper ores and concentrates in Africa, with the volume of imports recording X tons, which was approx. 58% of total imports in 2021. Namibia (X tons) took the second position in the ranking, distantly followed by Mozambique (X tons). All these countries together took near 40% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mozambique (with a CAGR of +10.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates importing markets in Africa were Namibia ($X), Zambia ($X) and Mozambique ($X), together accounting for 98% of total imports.

Mozambique, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, falling by -23.2% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when the import price increased by 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Namibia ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform