Eastern Asia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Eastern Asia

The East Asian market for copper bars, rods and profiles fell slightly to $X in 2022, with a decrease of -3.9% against the previous year. Over the period under review, consumption, however, saw mild growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Eastern Asia

In value terms, copper bar, rod and profile production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in Eastern Asia

In 2022, shipments abroad of copper bars, rods and profiles increased by 2.3% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 with an increase of 27% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, copper bar, rod and profile exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, South Korea (X tons), distantly followed by Taiwan (Chinese) (X tons), Japan (X tons) and China (X tons) were the largest exporters of copper bars, rods and profiles, together comprising 99% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2022, together comprising 81% of total exports. These countries were followed by China, which accounted for a further 18%.

Among the main exporting countries, China, with a CAGR of +11.5%, recorded 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 export price in Eastern Asia stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the export price increased by 38% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of copper bars, rods and profiles, when their volume decreased by -32.2% to X tons. Overall, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2020 when imports increased by 30% against the previous year. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, copper bar, rod and profile imports reduced remarkably to $X in 2022. In general, imports recorded a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of $X, and then declined remarkably in the following year.

Imports by Country

China represented the main importing country with an import of about X tons, which finished at 57% of total imports. Taiwan (Chinese) (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Japan (15%). The following importers - South Korea (X tons) and Hong Kong SAR (X tons) - each reached a 6.4% share of total imports.

Imports into China decreased at an average annual rate of -4.7% from 2012 to 2022. At the same time, Taiwan (Chinese) (+4.0%) and Japan (+3.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +4.0% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-18.0%) illustrated a downward trend over the same period. Taiwan (Chinese) (+12 p.p.) and Japan (+7.3 p.p.) significantly strengthened its position in terms of the total imports, while China and Hong Kong SAR saw its share reduced by -7.8% and -11.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper bars, rods and profiles in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by Japan, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to -2.3%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.7% per year) and Japan (+4.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the import price increased by 33%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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