Asia-Pacific: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Asia-Pacific

The Asia-Pacific market for copper bars, rods and profiles shrank slightly to $X in 2022, approximately equating the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs 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-Pacific

In value terms, copper bar, rod and profile production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 13%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in overseas shipments of copper bars, rods and profiles, when their volume decreased by -6% to X tons. In general, exports saw a mild curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 17%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports dropped to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 51%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, Malaysia (X tons) and South Korea (X tons) were the key exporters of copper bars, rods and profiles in Asia-Pacific, together committing 45% of total exports. Taiwan (Chinese) (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Japan (12%), Thailand (11%), China (7.6%) and Indonesia (5%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile supplying countries in Asia-Pacific were South Korea ($X), Malaysia ($X) and Japan ($X), together comprising 53% of total exports. Taiwan (Chinese), China, Thailand and Indonesia lagged somewhat behind, together accounting for a further 41%.

China, with a CAGR of +11.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries 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-Pacific stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 35% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Indonesia (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in overseas purchases of copper bars, rods and profiles, when their volume decreased by -11.9% to X tons. Overall, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 1.7% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports fell to $X in 2022. Over the period under review, imports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 36%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a 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) represented the main importers of copper bars, rods and profiles, together making up 83% of total imports.

Imports into China decreased at an average annual rate of -4.7% from 2012 to 2022. At the same time, Vietnam (+9.6%), 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-Pacific, with a CAGR of +9.6% from 2012-2022. By contrast, the Philippines (-4.2%), Singapore (-6.6%), India (-10.3%) and Malaysia (-12.5%) illustrated a downward trend over the same period. While the share of Vietnam (+5.2 p.p.), Taiwan (Chinese) (+5 p.p.), Thailand (+3.9 p.p.) and Japan (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-1.7 p.p.), India (-7.1 p.p.) and Malaysia (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper bars, rods and profiles in Asia-Pacific, comprising 22% of total imports. The second position in the ranking was held by India ($X), with a 9.5% share of total imports. It was followed by Thailand, with an 8.4% share.

In China, copper bar, rod and profile imports contracted by an average annual rate of -2.3% over the period from 2012-2022. 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-Pacific amounted to $X per ton, increasing by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the import price increased by 34%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 India ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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