Australia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Australia

The Australian market for copper bars, rods and profiles surged to $X in 2022, increasing by 15% against the previous year. Overall, consumption, however, saw a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Australia

In value terms, copper bar, rod and profile production surged to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 103%. Copper bar, rod and profile production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from Australia

In 2022, approx. X tons of copper bars, rods and profiles were exported from Australia; declining by -22.6% against the previous year's figure. Over the period under review, exports recorded a significant contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports fell markedly to $X in 2022. In general, exports showed a precipitous decline. The pace of growth was the most pronounced in 2021 with an increase of 74% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for copper bar, rod and profile exports from Australia, accounting for a 89% share of total exports. Moreover, copper bar, rod and profile exports to New Zealand exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. The third position in this ranking was taken by Japan (X tons), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+16.2% per year) and Japan (+149.9% per year).

In value terms, New Zealand ($X) remains the key foreign market for copper bars, rods and profiles exports from Australia, comprising 85% of total exports. The second position in the ranking was held by Malaysia ($X), with a 2.1% share of total exports. It was followed by Japan, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at -18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+9.4% per year) and Japan (+153.1% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, standing approx. at the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile export price increased by +77.2% against 2017 indices. The growth pace was the most rapid in 2021 when the average export price increased by 37% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Australia

In 2022, copper bar, rod and profile imports into Australia expanded slightly to X tons, rising by 3.7% on the previous year's figure. Overall, imports enjoyed a slight expansion. The pace of growth was the most pronounced in 2013 when imports increased by 112% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile imports totaled $X in 2022. Over the period under review, imports recorded a perceptible increase. The pace of growth was the most pronounced in 2013 when imports increased by 89%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of copper bar, rod and profile imports to Australia, with a combined 72% share of total imports. New Zealand, Germany, South Africa and Indonesia lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and South Korea ($X) appeared to be the largest copper bar, rod and profile suppliers to Australia, with a combined 71% share of total imports. New Zealand, Germany, Indonesia and South Africa lagged somewhat behind, together comprising a further 19%.

Germany, with a CAGR of +14.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, increasing by 5% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +29.6% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 33%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and Germany ($X per ton), while the price for South Africa ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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