Ghana: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Ghana

The Ghanian market for copper bars, wire and plates was estimated at $X in 2021, with an increase of 2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a prominent expansion. Copper bars, wire and plates consumption peaked in 2021 and is likely to continue growth in the immediate term.

Exports of Copper Bars, Wire And Plates

Exports from Ghana

In 2021, shipments abroad of copper bars, wire and plates increased by 17% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, exports enjoyed moderate growth. The growth pace was the most rapid in 2020 when exports increased by 77% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, copper bars, wire and plates exports stood at $X in 2021. Overall, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 79%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for copper bars, wire and plates exports from Ghana, with a 73% share of total exports. Moreover, copper bars, wire and plates exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X tons), threefold. The third position in this ranking was held by India (X tons), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire stood at +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+12.1% per year) and India (-6.0% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for copper bars, wire and plates exports from Ghana, comprising 90% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 5.6% share of total exports. It was followed by India, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-13.1% per year) and India (-19.8% per year).

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, which is down by -12.1% against the previous year. Overall, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 24%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+17.3%), while the prices for the other major destinations experienced a decline.

Imports of Copper Bars, Wire And Plates

Imports into Ghana

After four years of growth, supplies from abroad of copper bars, wire and plates decreased by -15.6% to X tons in 2021. Overall, imports, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 60%. Imports peaked at X tons in 2020, and then reduced notably in the following year.

In value terms, copper bars, wire and plates imports reached $X in 2021. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by 44%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest copper bars, wire and plates supplier to Ghana, with a 23% share of total imports. Moreover, copper bars, wire and plates imports from Belgium exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.9% per year) and Germany (-1.3% per year).

In value terms, Belgium ($X) constituted the largest supplier of copper bars, wire and plates to Ghana, comprising 19% of total imports. The second position in the ranking was held by Turkey ($X), with a 6.9% share of total imports. It was followed by Spain, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+58.9% per year) and Spain (+7.3% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, with an increase of 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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