Eastern Asia: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Eastern Asia

The East Asian copper ores and concentrates market soared to $X in 2021, rising by 44% against the previous year. In general, consumption recorded a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Copper Ores And Concentrates in Eastern Asia

In value terms, copper ores and concentrates production soared to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Copper Ores And Concentrates

Exports in Eastern Asia

In 2021, shipments abroad of copper ores and concentrates increased by 57% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 201% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, copper ores and concentrates exports soared to $X in 2021. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 186% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

South Korea (X tons) and Taiwan (Chinese) (X tons) prevails in exports structure, together constituting 98% of total exports. Democratic People's Republic of Korea (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +50.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest copper ores and concentrates supplying countries in Eastern Asia were Taiwan (Chinese) ($X), South Korea ($X) and Democratic People's Republic of Korea ($X), together accounting for 100% of total exports.

Among the main exporting countries, South Korea, with a CAGR of +66.9%, saw 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

In 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 39% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export 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 exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in Eastern Asia

In 2021, the amount of copper ores and concentrates imported in Eastern Asia rose rapidly to X tons, picking up by 5.6% against the previous year. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +110.6% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 14%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, copper ores and concentrates imports soared to $X in 2021. In general, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the main importer of copper ores and concentrates, generating 75% of total imports. Japan (X tons) ranks second in terms of the total imports with a 16% share, followed by South Korea (6.8%). Taiwan (Chinese) (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +12.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+23.2%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +23.2% from 2012-2021. Japan experienced a relatively flat trend pattern. While the share of China (+22 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-4.6 p.p.) and Japan (-18.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper ores and concentrates in Eastern Asia, comprising 73% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by South Korea, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +14.4%. In the other countries, the average annual rates were as follows: Japan (+1.4% per year) and South Korea (+3.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 43% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper ores and concentrates import price increased by +55.6% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($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 Taiwan (Chinese) (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform