Asia: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Asia

The Asian copper ores and concentrates market surged to $X in 2021, rising by 42% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +40.5% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Copper Ores And Concentrates in Asia

In value terms, copper ores and concentrates production surged to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +38.5% against 2018 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Copper Ores And Concentrates

Exports in Asia

In 2021, shipments abroad of copper ores and concentrates increased by 16% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 51%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, copper ores and concentrates exports soared to $X in 2021. In general, exports showed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Indonesia (X tons), distantly followed by Mongolia (X tons), Kazakhstan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Armenia (X tons), Iran (X tons) and Georgia (X tons) represented the key exporters of copper ores and concentrates, together generating 84% of total exports. Saudi Arabia (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +50.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates supplying countries in Asia were Indonesia ($X), Mongolia ($X) and Kazakhstan ($X), together accounting for 59% of total exports. Taiwan (Chinese), South Korea, Georgia, Armenia, Saudi Arabia and Iran lagged somewhat behind, together accounting for a further 31%.

In terms of the main exporting countries, South Korea, with a CAGR of +66.9%, saw 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

In 2021, the export price in Asia amounted to $X per ton, increasing by 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in Asia

Copper ores and concentrates imports totaled X tons in 2021, surging by 7.4% against the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.5% against 2012 indices. The growth pace was the most rapid in 2013 when imports increased by 21% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, copper ores and concentrates imports skyrocketed to $X in 2021. In general, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importing country with an import of around X tons, which finished at 70% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together creating a 21% share of total imports. India (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) took a minor share of total imports.

Imports into China increased at an average annual rate of +12.9% from 2012 to 2021. At the same time, Malaysia (+36.0%), Taiwan (Chinese) (+23.2%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +36.0% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, India (-7.9%) illustrated a downward trend over the same period. While the share of China (+24 p.p.) and Malaysia (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-3.6 p.p.), India (-8.5 p.p.) and Japan (-15.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper ores and concentrates in Asia, comprising 69% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 7.3% share.

In China, copper ores and concentrates imports increased at an average annual rate of +14.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.4% per year) and South Korea (+3.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 41% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform