Brazil: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Brazil

The Brazilian copper ores and concentrates market fell rapidly to $X in 2021, dropping by -17.2% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.2% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Copper Ores And Concentrates in Brazil

In value terms, copper ores and concentrates production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 5.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Exports of Copper Ores And Concentrates

Exports from Brazil

In 2021, shipments abroad of copper ores and concentrates was finally on the rise to reach X tons after two years of decline. Overall, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 27%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper ores and concentrates exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +44.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), China (X tons) and Spain (X tons) were the main destinations of copper ores and concentrates exports from Brazil, together comprising 50% of total exports. These countries were followed by Sweden, Poland, Finland, Bulgaria, South Korea, Georgia, Taiwan (Chinese), India, the Philippines and Malaysia, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +108.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Sweden ($X) constituted the largest markets for copper ores and concentrates exported from Brazil worldwide, with a combined 48% share of total exports. Spain, Poland, Bulgaria, Finland, Georgia, Taiwan (Chinese), South Korea, the Philippines, India and Malaysia lagged somewhat behind, together comprising a further 50%.

Malaysia, with a CAGR of +138.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average copper ores and concentrates export price stood at $X per ton in 2021, with an increase of 35% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. 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 destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Spain ($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 Malaysia (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports into Brazil

In 2021, imports of copper ores and concentrates into Brazil shrank markedly to X tons, with a decrease of -21.9% against 2020. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 100% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, copper ores and concentrates imports expanded to $X in 2021. Over the period under review, imports recorded a noticeable downturn. The pace of growth was the most pronounced in 2013 when imports increased by 87%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Chile (X tons), Peru (X tons) and Panama (X tons) were the main suppliers of copper ores and concentrates imports to Brazil, together accounting for 99.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +17.7%), while imports for the other leaders experienced a decline.

In value terms, Chile ($X), Peru ($X) and Panama ($X) were the largest copper ores and concentrates suppliers to Brazil, together comprising 99.9% of total imports.

Peru, with a CAGR of +15.8%, 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 a decline.

Import Prices by Country

In 2021, the average copper ores and concentrates import price amounted to $X per ton, growing by 30% against the previous year. Overall, the import price, however, continues to indicate a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+52.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform