ECOWAS: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in ECOWAS

The ECOWAS market for copper bars, rods and profiles amounted to $X in 2022, flattening at the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in ECOWAS

In value terms, copper bar, rod and profile production amounted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports in ECOWAS

After two years of growth, shipments abroad of copper bars, rods and profiles decreased by -34.3% to X tons in 2022. In general, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 192% against the previous year. The volume of export peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, copper bar, rod and profile exports dropped markedly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 230%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Togo (X tons), Senegal (X tons), Sierra Leone (X tons) and Nigeria (X tons) was the key exporter of copper bars, rods and profiles in ECOWAS, constituting 98% of total export. Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +57.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Togo ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 81% share of total exports. Sierra Leone and Ghana lagged somewhat behind, together comprising a further 18%.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +52.5%, 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

In 2022, the export price in ECOWAS amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 86% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+3.1%), while the other leaders experienced a decline in the export price figures.

Imports of Copper Bars, Rods and Profiles

Imports in ECOWAS

Copper bar, rod and profile imports contracted modestly to X tons in 2022, standing approx. at 2021. Over the period under review, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of 67% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports contracted to $X in 2022. Overall, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 52%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Sierra Leone (X tons) represented the key importers of copper bars, rods and profiles, together committing 80% of total imports. Burkina Faso (X tons) and Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +16.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile importing markets in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined 56% share of total imports. Senegal, Sierra Leone, Guinea and Burkina Faso lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Sierra Leone, with a CAGR of +9.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -3.1% against the previous year. In general, the import price showed a mild decrease. The most prominent rate of growth was recorded in 2020 an increase of 26%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform