Europe: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Europe

In 2021, the Europe copper ores and concentrates market increased by 26% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Copper Ores And Concentrates in Europe

In value terms, copper ores and concentrates production soared to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.7% against 2019 indices. 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 Europe

After two years of decline, shipments abroad of copper ores and concentrates increased by 56% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper ores and concentrates exports surged to $X in 2021. Overall, exports enjoyed a strong increase. 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 four major exporters of copper ores and concentrates, namely Spain, Russia, Serbia and Bulgaria, represented more than two-thirds of total export. It was distantly followed by Portugal (X tons), comprising a 6.5% share of total exports. The following exporters - Finland (X tons) and Germany (X tons) - together made up 5.8% 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 Finland (with a CAGR of +271.8%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Spain ($X) and Serbia ($X) were the countries with the highest levels of exports in 2021, together comprising 74% of total exports. Portugal, Finland, Bulgaria and Germany lagged somewhat behind, together comprising a further 20%.

Finland, with a CAGR of +152.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Europe stood at $X per ton in 2021, picking up by 27% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 41% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: 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 Russia (+5.8%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in Europe

In 2021, copper ores and concentrates imports in Europe fell to X tons, with a decrease of -6.6% compared with 2020. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, copper ores and concentrates imports surged to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 34%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of copper ores and concentrates imports in 2021 were Germany (X tons), Spain (X tons) and Bulgaria (X tons), together recording 68% of total import. Finland (X tons) ranks next in terms of the total imports with a 12% share, followed by Sweden (7.4%) and Switzerland (4.5%). Poland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Switzerland (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates importing markets in Europe were Germany ($X), Spain ($X) and Bulgaria ($X), with a combined 69% share of total imports. Finland, Sweden, Switzerland and Poland lagged somewhat behind, together accounting for a further 28%.

Poland, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Europe stood at $X per ton in 2021, jumping by 38% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. 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 +74.8% 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