Australia: Copper Wire Market 2024

Copper Wire Market Size in Australia

In 2021, the Australian copper wire market increased by 7.3% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a perceptible slump. Copper wire consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Copper Wire Production in Australia

In value terms, copper wire production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The growth pace was the most rapid in 2018 when the production volume increased by 34%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports from Australia

In 2021, shipments abroad of copper wire decreased by -13% to X tons, falling for the second year in a row after five years of growth. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 101% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, copper wire exports dropped rapidly to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 120%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for copper wire exports from Australia, accounting for a 70% share of total exports. Moreover, copper wire exports to Malaysia exceeded the volume sent to the second major destination, New Zealand (X tons), sevenfold. Thailand (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled +156.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-18.2% per year) and Thailand (+9.1% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for copper wire exports from Australia, comprising 43% of total exports. The second position in the ranking was held by New Zealand ($X), with a 14% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia amounted to +118.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-20.8% per year) and Thailand (+7.5% per year).

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, waning by -2.9% against the previous year. In general, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 an increase of 27%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Malaysia ($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 China (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Australia

After three years of decline, purchases abroad of copper wire increased by 4.8% to X tons in 2021. Overall, imports saw significant growth. The growth pace was the most rapid in 2014 with an increase of 521% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, copper wire imports soared to $X in 2021. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 477%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest copper wire supplier to Australia, accounting for a 57% share of total imports. Moreover, copper wire 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 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +245.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+68.4% per year) and South Korea (+59.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper wire to Australia, comprising 58% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total imports. It was followed by South Korea, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +258.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+69.0% per year) and South Korea (+61.1% per year).

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, increasing by 46% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire import price increased by +36.9% against 2018 indices. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform