Australia: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Australia

In 2021, the Australian market for copper bars, wire and plates increased by 2% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a mild shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Copper Bars, Wire And Plates in Australia

In value terms, copper bars, wire and plates production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 59% against the previous year. Copper bars, wire and plates production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Australia

In 2021, approx. X tons of copper bars, wire and plates were exported from Australia; with an increase of 104% against the previous year's figure. In general, exports, however, showed a dramatic shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Overall, exports, however, faced a precipitous decrease. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of copper bars, wire and plates exports from Australia, together accounting for 85% of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +61.2%), while shipments for the other leaders experienced a decline.

In value terms, New Zealand ($X) remains the key foreign market for copper bars, wire and plates exports from Australia, comprising 51% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 18% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to New Zealand stood at -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+55.9% per year) and Thailand (-23.3% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, waning by -4.6% against the previous year. Over the period under review, the export price recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 an increase of 49% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Australia

In 2021, overseas purchases of copper bars, wire and plates increased by 7.3% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports recorded a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 110% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, copper bars, wire and plates imports soared to $X in 2021. Over the period under review, imports posted resilient growth. The growth pace was the most rapid in 2014 when imports increased by 105% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest copper bars, wire and plates supplier to Australia, with a 48% share of total imports. Moreover, copper bars, wire and plates imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +331.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.2% per year) and South Korea (+7.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, wire and plates to Australia, comprising 48% of total imports. The second position in the ranking was taken by Malaysia ($X), with an 18% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +354.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+15.6% per year) and South Korea (+12.4% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, surging by 44% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates import price increased by +34.8% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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