Dominican Republic: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in the Dominican Republic

In 2022, the Dominican market for copper bars, rods and profiles increased by 85% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption enjoyed a slight increase. Copper bar, rod and profile consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from the Dominican Republic

In 2022, overseas shipments of copper bars, rods and profiles were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded moderate growth. The most prominent rate of growth was recorded in 2019 when exports increased by 18,303% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, copper bar, rod and profile exports soared to $X in 2022. Overall, exports recorded perceptible growth. The most prominent rate of growth was recorded in 2019 with an increase of 4,024%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

India (X tons) was the main destination for copper bar, rod and profile exports from the Dominican Republic, with a 95% share of total exports. Moreover, copper bar, rod and profile exports to India exceeded the volume sent to the second major destination, Haiti (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to India was relatively modest.

In value terms, India ($X) emerged as the key foreign market for copper bars, rods and profiles exports from the Dominican Republic, comprising 88% of total exports. The second position in the ranking was taken by Haiti ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India was relatively modest.

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, waning by -62.2% against the previous year. Overall, the export price showed a slight decrease. The growth pace was the most rapid in 2018 when the average export price increased by 610% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+18.7%).

Imports of Copper Bars, Rods and Profiles

Imports into the Dominican Republic

In 2022, purchases abroad of copper bars, rods and profiles was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports surged to $X in 2022. Overall, imports enjoyed a notable expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest copper bar, rod and profile supplier to the Dominican Republic, accounting for a 36% share of total imports. Moreover, copper bar, rod and profile imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+35.3% per year) and Spain (-10.3% per year).

In value terms, the largest copper bar, rod and profile suppliers to the Dominican Republic were the United States ($X), Spain ($X) and China ($X), with a combined 75% share of total imports. Costa Rica, Colombia, South Korea and Germany lagged somewhat behind, together accounting for a further 19%.

Costa Rica, with a CAGR of +518.4%, recorded the highest growth rate of 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 import price for copper bars, rods and profiles stood at $X per ton in 2022, jumping by 17% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 import price increased by +53.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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