Europe: Copper Matte Market 2025

Copper Matte Market Size in Europe

In 2022, the Europe copper matte market decreased by -0.3% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption saw modest growth. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Copper Matte Production in Europe

In value terms, copper matte production reduced slightly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +65.8% against 2018 indices. The growth pace was the most rapid in 2013 when the production volume increased by 52%. Over the period under review, production reached the maximum level at $X in 2021, and then contracted slightly in the following year.

Copper Matte Exports

Exports in Europe

In 2022, overseas shipments of copper mattes and cement copper decreased by -5.8% to X tons, falling for the second consecutive year after four years of growth. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 34%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, copper matte exports soared to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 56% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Finland represented the key exporter of copper mattes and cement copper in Europe, with the volume of exports recording X tons, which was approx. 55% of total exports in 2022. Belgium (X tons) ranks second in terms of the total exports with a 17% share, followed by the Netherlands (12%) and Germany (6.6%). Bulgaria (X tons) and Poland (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to copper matte exports from Finland stood at +9.4%. At the same time, the Netherlands (+159.9%), Germany (+121.1%), Poland (+5.7%) and Belgium (+2.9%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of +159.9% from 2012-2022. By contrast, Bulgaria (-4.1%) illustrated a downward trend over the same period. While the share of Finland (+16 p.p.), the Netherlands (+12 p.p.) and Germany (+6.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-5.4 p.p.) and Bulgaria (-5.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) remains the largest copper matte supplier in Europe, comprising 86% of total exports. The second position in the ranking was taken by Belgium ($X), with a 3.8% share of total exports. It was followed by Germany, with a 2.7% share.

In Finland, copper matte exports increased at an average annual rate of +23.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (+3.3% per year) and Germany (+84.7% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, picking up by 30% against the previous year. Over the period under review, the export price enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 an increase of 50% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+12.9%), while the other leaders experienced more modest paces of growth.

Copper Matte Imports

Imports in Europe

Copper matte imports soared to X tons in 2022, increasing by 21% on the year before. Overall, imports recorded strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 265%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, copper matte imports reached $X in 2022. In general, imports showed a temperate expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 124% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Russia represented the main importer of copper mattes and cement copper in Europe, with the volume of imports reaching X tons, which was near 63% of total imports in 2022. It was distantly followed by Belgium (X tons) and Finland (X tons), together achieving a 30% share of total imports. Bulgaria (X tons) and Germany (X tons) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of +20.5% from 2012 to 2022. At the same time, Finland (+50.2%), Bulgaria (+49.6%) and Germany (+1.9%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Europe, with a CAGR of +50.2% from 2012-2022. By contrast, Belgium (-2.9%) illustrated a downward trend over the same period. While the share of Russia (+42 p.p.), Finland (+6.9 p.p.) and Bulgaria (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-42 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported copper mattes and cement copper in Europe, comprising 67% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by Finland, with a 6.6% share.

In Russia, copper matte imports increased at an average annual rate of +20.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-9.2% per year) and Finland (+50.5% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, shrinking by -12.5% against the previous year. Overall, the import price saw a perceptible descent. The growth pace was the most rapid in 2021 an increase of 50%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Bulgaria ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform