Asia-Pacific: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Asia-Pacific

For the sixth year in a row, the Asia-Pacific copper ores and concentrates market recorded growth in sales value, which increased by 31% to $X in 2021. Overall, consumption enjoyed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Copper Ores And Concentrates in Asia-Pacific

In value terms, copper ores and concentrates production skyrocketed to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +27.1% against 2018 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Copper Ores And Concentrates

Exports in Asia-Pacific

In 2021, shipments abroad of copper ores and concentrates was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper ores and concentrates exports surged to $X in 2021. Total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons) and Australia (X tons) were the largest exporters of copper ores and concentrates in 2021, finishing at approx. 39% and 29% of total exports, respectively. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Papua New Guinea (X tons), together comprising a 23% share of total exports. The following exporters - Malaysia (X tons) and Lao People's Democratic Republic (X tons) - each reached a 6.2% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of +50.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates supplying countries in Asia-Pacific were Australia ($X), Indonesia ($X) and Taiwan (Chinese) ($X), with a combined 80% share of total exports. These countries were followed by South Korea, Papua New Guinea, Lao People's Democratic Republic and Malaysia, which together accounted for a further 17%.

In terms of the main exporting countries, South Korea, with a CAGR of +66.9%, saw the highest rates of growth with regard to 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-Pacific stood at $X per ton in 2021, rising by 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

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

Imports of Copper Ores And Concentrates

Imports in Asia-Pacific

In 2021, approx. X tons of copper ores and concentrates were imported in Asia-Pacific; growing by 7% against 2020. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.5% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 20%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

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

Imports by Country

China represented the major importing country with an import of about X tons, which recorded 72% of total imports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held approx. 22% share of total imports. The following importers - India (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) - together made up 6.2% of total imports.

From 2012 to 2021, average annual rates of growth with regard to copper ores and concentrates imports into China stood at +12.9%. 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-Pacific, 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 (+26 p.p.) and Malaysia (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-3.4 p.p.), India (-8.5 p.p.) and Japan (-14.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper ores and concentrates in Asia-Pacific, comprising 70% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 7.4% share.

In China, copper ores and concentrates imports expanded at an average annual rate of +14.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.4% per year) and South Korea (+3.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, jumping by 42% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: 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

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