Bangladesh: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Bangladesh

The Bangladeshi market for copper bars, wire and plates contracted to $X in 2021, which is down by -8.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Copper bars, wire and plates consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Bangladesh

For the fifth consecutive year, Bangladesh recorded growth in overseas shipments of copper bars, wire and plates, which increased by 20% to X tons in 2021. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 37%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, copper bars, wire and plates exports surged to $X in 2021. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

India (X tons) was the main destination for copper bars, wire and plates exports from Bangladesh, with a 68% share of total exports. Moreover, copper bars, wire and plates exports to India exceeded the volume sent to the second major destination, Singapore (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +15.1%.

In value terms, India ($X) remains the key foreign market for copper bars, wire and plates exports from Bangladesh, comprising 76% of total exports. The second position in the ranking was held by Singapore ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +17.1%.

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2016 an increase of 21%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+1.8%).

Imports of Copper Bars, Wire And Plates

Imports into Bangladesh

In 2021, the amount of copper bars, wire and plates imported into Bangladesh shrank to X tons, with a decrease of -11.4% compared with the previous year. Over the period under review, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% 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 decreased by -27.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 59% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, copper bars, wire and plates imports rose sharply to $X in 2021. In general, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 decreased by -10.5% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest copper bars, wire and plates supplier to Bangladesh, with a 39% share of total imports. Moreover, copper bars, wire and plates imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-1.8% per year) and South Korea (+7.5% per year).

In value terms, China ($X) constituted the largest supplier of copper bars, wire and plates to Bangladesh, comprising 36% of total imports. The second position in the ranking was held by Indonesia ($X), with a 17% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-2.5% per year) and South Korea (+8.4% per year).

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, surging by 24% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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