Colombia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Colombia

The Colombian market for copper bars, rods and profiles reduced modestly to $X in 2022, falling by -3.5% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Copper bar, rod and profile consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in Colombia

In value terms, copper bar, rod and profile production shrank slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 15% against the previous year. Copper bar, rod and profile production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Colombia

In 2022, overseas shipments of copper bars, rods and profiles increased by 8.7% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 76%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports reduced to $X in 2022. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 81%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Ecuador (X tons) and Mexico (X tons) were the main destinations of copper bar, rod and profile exports from Colombia, with a combined 79% share of total exports. Bolivia, the Dominican Republic, Chile and Venezuela lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +87.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bar, rod and profile exported from Colombia were the United States ($X), Ecuador ($X) and Bolivia ($X), together comprising 81% of total exports. Mexico, Chile, Venezuela and the Dominican Republic lagged somewhat behind, together accounting for a further 19%.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of +64.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, reducing by -11.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 27% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the Dominican Republic ($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 Costa Rica (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Colombia

In 2022, the amount of copper bars, rods and profiles imported into Colombia was estimated at X tons, growing by 14% compared with the previous year. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 206% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports declined slightly to $X in 2022. Over the period under review, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 109% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Peru (X tons), Chile (X tons) and South Korea (X tons) were the main suppliers of copper bar, rod and profile imports to Colombia, together comprising 88% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +135.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Chile ($X) and South Korea ($X) constituted the largest copper bar, rod and profile suppliers to Colombia, with a combined 85% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +117.1%, saw the highest rates of growth with regard to the value of imports, 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, which is down by -14.5% against the previous year. Overall, the import price continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of 32%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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