Eastern Asia: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Eastern Asia

The East Asian market for copper bars, wire and plates shrank modestly to $X in 2021, dropping by -3.1% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then shrank slightly in the following year.

Production of Copper Bars, Wire And Plates in Eastern Asia

In value terms, copper bars, wire and plates production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Exports of Copper Bars, Wire And Plates

Exports in Eastern Asia

In 2021, after three years of decline, there was significant growth in shipments abroad of copper bars, wire and plates, when their volume increased by 18% to X tons. The total export volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports surged to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of copper bars, wire and plates, namely South Korea, Japan and China, represented more than two-thirds of total export. Taiwan (Chinese) (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (5.1%).

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +14.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 82% share of total exports.

Among the main exporting countries, China, with a CAGR of +15.1%, recorded the highest rates of growth with regard to 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 2021, jumping by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Japan ($X per ton) and Hong Kong SAR ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports in Eastern Asia

In 2021, purchases abroad of copper bars, wire and plates increased by 15% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a slight slump. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of copper bars, wire and plates in Eastern Asia, with the volume of imports amounting to X tons, which was near 59% of total imports in 2021. Taiwan (Chinese) (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Japan (11%), Hong Kong SAR (8.8%) and South Korea (6.7%).

Imports into China decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Japan (+6.4%) and Taiwan (Chinese) (+5.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.4% from 2012-2021. By contrast, South Korea (-2.2%) and Hong Kong SAR (-7.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese) and Japan increased by +5.9 and +5.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper bars, wire and plates in Eastern Asia, comprising 58% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.9% per year) and Japan (+7.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 31% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in South Korea ($X per ton) and Hong Kong SAR ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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