China: Copper Wire Market 2024

Copper Wire Market Size in China

In 2021, the Chinese copper wire market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Copper Wire Production in China

In value terms, copper wire production stood at $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 32% against the previous year. Copper wire production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from China

For the tenth consecutive year, China recorded growth in shipments abroad of copper wire, which increased by 15% to X tons in 2021. Overall, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 46% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, copper wire exports surged to $X in 2021. Over the period under review, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), Thailand (X tons) and the Philippines (X tons) were the main destinations of copper wire exports from China, together accounting for 56% of total exports. Malaysia, Germany, Japan, India, South Korea, Australia, Cambodia, Singapore, the United States and Hong Kong SAR lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +198.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper wire exported from China were Vietnam ($X), Thailand ($X) and the Philippines ($X), with a combined 56% share of total exports. Malaysia, Japan, Germany, India, South Korea, Singapore, Cambodia, Australia, the United States and Hong Kong SAR lagged somewhat behind, together comprising a further 32%.

Cambodia, with a CAGR of +195.4%, recorded the highest rates of growth with regard to 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 wire export price stood at $X per ton in 2021, jumping by 42% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Japan ($X per ton), while the average price for exports to Australia ($X per ton) and Germany ($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 Hong Kong SAR (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into China

In 2021, supplies from abroad of copper wire increased by 3.7% to X tons, rising for the second year in a row after four years of decline. Overall, imports, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2020 with an increase of 8.9%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, copper wire imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a pronounced decline. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main suppliers of copper wire imports to China, with a combined 67% share of total imports. These countries were followed by South Korea, Malaysia, Thailand and Japan, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +62.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Taiwan (Chinese) ($X) and Vietnam ($X) constituted the largest copper wire suppliers to China, with a combined 60% share of total imports. South Korea, Japan, Malaysia and Thailand lagged somewhat behind, together accounting for a further 31%.

Thailand, with a CAGR of +66.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, increasing by 38% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform