EU: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in the EU

In 2021, the EU copper ores and concentrates market increased by 37% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a slight slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Copper Ores And Concentrates in the EU

In value terms, copper ores and concentrates production soared to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Copper Ores And Concentrates

Exports in the EU

In 2021, shipments abroad of copper ores and concentrates increased by 9.6% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -43.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 24%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports surged to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 69%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Spain was the main exporter of copper ores and concentrates in the European Union, with the volume of exports resulting at X tons, which was approx. 47% of total exports in 2021. Bulgaria (X tons) ranks second in terms of the total exports with a 26% share, followed by Portugal (12%) and Finland (7.7%). The following exporters - Germany (X tons) and Romania (X tons) - each accounted for a 6.3% share of total exports.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +271.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the largest copper ores and concentrates supplier in the European Union, comprising 53% of total exports. The second position in the ranking was held by Portugal ($X), with a 15% share of total exports. It was followed by Finland, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Spain was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Portugal (-5.3% per year) and Finland (+152.3% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, surging by 41% against the previous year. Overall, the export price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2017 when the export price increased by 41%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Finland ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+4.7%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in the EU

In 2021, approx. X tons of copper ores and concentrates were imported in the European Union; reducing by -2.8% against the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 17%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, copper ores and concentrates imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

The purchases of the three major importers of copper ores and concentrates, namely Germany, Spain and Bulgaria, represented more than two-thirds of total import. It was distantly followed by Finland (X tons) and Sweden (X tons), together committing a 21% share of total imports. Poland (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +16.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates importing markets in the European Union were Germany ($X), Spain ($X) and Bulgaria ($X), together accounting for 75% of total imports. Finland, Sweden and Poland lagged somewhat behind, together accounting for a further 25%.

Poland, with a CAGR of +18.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, growing by 39% against the previous year. Import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 +78.5% against 2016 indices. 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 Poland ($X per ton) and Germany ($X per ton), while Bulgaria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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