Europe: Refined Copper Market 2025

Refined Copper Market Size in Europe

The Europe refined copper market contracted to $X in 2022, flattening at the previous year. Overall, consumption, however, recorded a slight descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Refined Copper Production in Europe

In value terms, refined copper production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 7.9% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Copper Exports

Exports in Europe

In 2022, overseas shipments of refined copper (unwrought, not alloyed) decreased by -1.6% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined copper exports contracted to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 32%. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Russia (X tons), distantly followed by Poland (X tons), Germany (X tons), Bulgaria (X tons), Belgium (X tons), the Netherlands (X tons), Austria (X tons) and Sweden (X tons) represented the major exporters of refined copper (unwrought, not alloyed), together committing 88% of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined copper exports from Russia stood at +9.0%. At the same time, the Netherlands (+11.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of +11.1% from 2012-2022. Sweden experienced a relatively flat trend pattern. By contrast, Bulgaria (-1.0%), Austria (-1.2%), Poland (-1.6%), Germany (-2.8%) and Belgium (-3.5%) illustrated a downward trend over the same period. While the share of Russia (+16 p.p.) and the Netherlands (+5.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Poland (-2.7 p.p.), Germany (-3.7 p.p.) and Belgium (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 50% share of total exports. Bulgaria, Belgium, the Netherlands, Austria and Sweden lagged somewhat behind, together comprising a further 38%.

The Netherlands, with a CAGR of +8.4%, saw the highest rates of growth with regard to the value of exports, among 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 2022, shrinking by -7.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 48%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($X per ton) and Belgium ($X per ton), while Russia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the other leaders experienced more modest paces of growth.

Refined Copper Imports

Imports in Europe

In 2022, the amount of refined copper (unwrought, not alloyed) imported in Europe contracted slightly to X tons, shrinking by -2.6% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 12% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, refined copper imports shrank to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly 61% of total imports in 2022. France (X tons) took the next position in the ranking, followed by Spain (X tons) and the Netherlands (X tons). All these countries together took approx. 23% share of total imports. The following importers - Greece (X tons) and Austria (X tons) - together made up 6.2% of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +19.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 71% share of total imports. Spain, the Netherlands, Greece and Austria lagged somewhat behind, together accounting for a further 20%.

In terms of the main importing countries, Austria, with a CAGR of +21.5%, recorded the highest growth rate of 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 Europe amounted to $X per ton, falling by -3.3% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper import price increased by +48.4% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 50%. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Spain ($X per ton) and France ($X per ton), while Italy ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform