Colombia: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Colombia

In 2021, after two years of decline, there was significant growth in the Colombian market for copper bars, wire and plates, when its value increased by 46% to $X. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Copper Bars, Wire And Plates

Exports from Colombia

In 2021, shipments abroad of copper bars, wire and plates was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 88% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Overall, exports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 93%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Ecuador (X tons) and Costa Rica (X tons) were the main destinations of copper bars, wire and plates exports from Colombia, with a combined 62% share of total exports. Bolivia, Venezuela, Mexico and Brazil lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +682.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bars, wire and plates exported from Colombia were the United States ($X), Ecuador ($X) and Costa Rica ($X), with a combined 65% share of total exports. These countries were followed by Bolivia, Venezuela, Mexico and Brazil, which together accounted for a further 29%.

Brazil, with a CAGR of +425.0%, saw 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

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, picking up by 31% against the previous year. Overall, the export price saw 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.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Brazil ($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 the United States (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Colombia

Copper bars, wire and plates imports into Colombia rose remarkably to X tons in 2021, surging by 12% against the previous year. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 21%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Peru (X tons) constituted the largest copper bars, wire and plates supplier to Colombia, with a 51% share of total imports. Moreover, copper bars, wire and plates imports from Peru exceeded the figures recorded by the second-largest supplier, Chile (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Peru stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-2.5% per year) and Brazil (+9.7% per year).

In value terms, Peru ($X) constituted the largest supplier of copper bars, wire and plates to Colombia, comprising 52% of total imports. The second position in the ranking was taken by Chile ($X), with a 12% share of total imports. It was followed by Brazil, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Peru amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-1.5% per year) and Brazil (+9.7% per year).

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, with an increase of 42% against the previous year. In general, import price indicated modest growth 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 bars, wire and plates import price increased by +32.5% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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