Asia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Asia

The Asian market for copper bars, rods and profiles shrank modestly to $X in 2022, declining by -4.5% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in Asia

In value terms, copper bar, rod and profile production dropped to $X in 2022 estimated in export price. The total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in Asia

In 2022, overseas shipments of copper bars, rods and profiles decreased by -4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 15%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports contracted to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 53%. As a result, the exports attained the peak of $X, and then fell slightly in the following year.

Exports by Country

Malaysia (X tons) and South Korea (X tons) represented roughly 39% of total exports in 2022. Taiwan (Chinese) (X tons) ranks next in terms of the total exports with a 12% share, followed by Japan (11%), Thailand (9.7%), Turkey (7.5%), China (6.6%) and the United Arab Emirates (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +10.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile supplying countries in Asia were South Korea ($X), Malaysia ($X) and Japan ($X), together accounting for 46% of total exports. Taiwan (Chinese), China, Thailand, Turkey and the United Arab Emirates lagged somewhat behind, together accounting for a further 42%.

Among the main exporting countries, China, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, approximately equating the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 34% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports in Asia

Copper bar, rod and profile imports declined to X tons in 2022, dropping by -14.4% compared with 2021 figures. Over the period under review, imports showed a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 1.5% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports declined to $X in 2022. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by the Philippines (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), India (X tons), Vietnam (X tons), Singapore (X tons), Japan (X tons) and Malaysia (X tons) were the major importers of copper bars, rods and profiles, together mixing up 78% of total imports. Turkey (X tons), Indonesia (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to copper bar, rod and profile imports into China stood at -4.7%. At the same time, Vietnam (+9.6%), Turkey (+8.0%), Taiwan (Chinese) (+4.0%), Japan (+3.2%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +9.6% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, the Philippines (-4.2%), the United Arab Emirates (-4.7%), Singapore (-6.6%), India (-10.3%), Malaysia (-12.5%) and Saudi Arabia (-28.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese), Vietnam, China, Thailand, Japan, Turkey, the Philippines and Indonesia increased by +5.6, +5.4, +5.1, +4.9, +3.7, +3.5, +2.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper bars, rods and profiles in Asia, comprising 21% of total imports. The second position in the ranking was taken by India ($X), with a 9% share of total imports. It was followed by Thailand, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -2.3%. In the other countries, the average annual rates were as follows: India (-8.4% per year) and Thailand (+2.8% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with an increase of 3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the import price increased by 33%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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