Hungary: Copper Market 2025

Copper Market Size in Hungary

In 2022, the Hungarian copper market increased by 15% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a perceptible slump. Copper consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Copper Exports

Exports from Hungary

In 2022, after four years of growth, there was significant decline in overseas shipments of copper, when their volume decreased by -17.6% to X tons. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 432,729% against the previous year. The exports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, copper exports rose modestly to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 79,336% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for copper exports from Hungary, accounting for a 63% share of total exports. Moreover, copper exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +161.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+51.3% per year) and Spain (+12.8% per year).

In value terms, Germany ($X) remains the key foreign market for copper exports from Hungary, comprising 63% of total exports. The second position in the ranking was taken by Poland ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +139.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+25.6% per year) and Spain (+4.0% per year).

Export Prices by Country

In 2022, the average copper export price amounted to $X per ton, jumping by 26% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2017 when the average export price increased by 134,417%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-7.8%), while the prices for the other major destinations experienced a decline.

Copper Imports

Imports into Hungary

In 2022, supplies from abroad of copper increased by 48% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports posted a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 233% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, copper imports expanded significantly to $X in 2022. Overall, imports, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 169% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of copper to Hungary, accounting for a 74% share of total imports. Moreover, copper imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+130.3% per year) and Spain (+122.6% per year).

In value terms, Germany ($X) constituted the largest supplier of copper to Hungary, comprising 81% of total imports. The second position in the ranking was held by Poland ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+99.0% per year) and Spain (+91.9% per year).

Import Prices by Country

The average copper import price stood at $X per ton in 2022, waning by -23.1% against the previous year. Over the period under review, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 23%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-7.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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