Brazil: Copper Wire Market 2024

Copper Wire Market Size in Brazil

After two years of decline, the Brazilian copper wire market increased by 14% to $X in 2021. Overall, consumption, however, saw a noticeable downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Copper Wire Production in Brazil

In value terms, copper wire production rose sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible slump. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from Brazil

In 2021, shipments abroad of copper wire decreased by -13.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 82% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper wire exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 54%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for copper wire exports from Brazil, accounting for a 49% share of total exports. Moreover, copper wire exports to Argentina exceeded the volume sent to the second major destination, Costa Rica (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-4.3% per year) and Colombia (+4.9% per year).

In value terms, Argentina ($X) remains the key foreign market for copper wire exports from Brazil, comprising 49% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 16% share of total exports. It was followed by Colombia, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-3.2% per year) and Colombia (+5.7% per year).

Export Prices by Country

The average copper wire export price stood at $X per ton in 2021, increasing by 45% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +50.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Uruguay ($X per ton), while the average price for exports to Colombia ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Brazil

In 2021, overseas purchases of copper wire increased by 33% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 104%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, copper wire imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible contraction. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Chile (X tons) constituted the largest copper wire supplier to Brazil, with a 54% share of total imports. Moreover, copper wire imports from Chile exceeded the figures recorded by the second-largest supplier, Peru (X tons), fourfold. The third position in this ranking was held by Mexico (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Chile amounted to -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+36.4% per year) and Mexico (+98.9% per year).

In value terms, Chile ($X) constituted the largest supplier of copper wire to Brazil, comprising 52% of total imports. The second position in the ranking was held by Peru ($X), with a 12% share of total imports. It was followed by Mexico, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Chile stood at -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+38.4% per year) and Mexico (+92.2% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, with an increase of 42% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Italy ($X per ton), while the price for Mexico ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform