Chile: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Chile

The Chilean market for copper bars, rods and profiles shrank modestly to $X in 2022, with a decrease of -2.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Chile

In value terms, copper bar, rod and profile production dropped slightly to $X in 2022 estimated in export price. Overall, production recorded a noticeable decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from Chile

In 2022, overseas shipments of copper bars, rods and profiles increased by 19% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, continue to indicate a deep reduction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports surged to $X in 2022. Overall, exports, however, saw a pronounced slump. The growth pace was the most rapid in 2021 when exports increased by 55% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for copper bar, rod and profile exports from Chile, with a 43% share of total exports. Moreover, copper bar, rod and profile exports to Mexico exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.7% per year) and China (+14.4% per year).

In value terms, Mexico ($X) remains the key foreign market for copper bars, rods and profiles exports from Chile, comprising 42% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by China, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value to Mexico stood at +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.9% per year) and China (+15.8% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, surging by 6.4% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile export price increased by +55.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 46%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Chile

In 2022, the amount of copper bars, rods and profiles imported into Chile expanded markedly to X tons, picking up by 14% compared with the year before. Over the period under review, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 96% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, copper bar, rod and profile imports surged to $X in 2022. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 96%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

South Korea (X tons), Brazil (X tons) and Peru (X tons) were the main suppliers of copper bar, rod and profile imports to Chile, together comprising 84% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +57.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile suppliers to Chile were South Korea ($X), Brazil ($X) and Peru ($X), with a combined 79% share of total imports.

South Korea, with a CAGR of +63.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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