India: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in India

The Indian market for copper bars, rods and profiles shrank to $X in 2022, waning by -1.7% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Copper bar, rod and profile consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in India

In value terms, copper bar, rod and profile production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from India

In 2022, overseas shipments of copper bars, rods and profiles increased by 34% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a slight contraction. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports soared to $X in 2022. Overall, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +133.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 66% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for copper bar, rod and profile exports from India, with a 33% share of total exports. Moreover, copper bar, rod and profile exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Germany (X tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-8.1% per year) and Germany (+16.9% per year).

In value terms, the United States ($X) remains the key foreign market for copper bars, rods and profiles exports from India, comprising 32% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-6.6% per year) and Germany (+15.9% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, with an increase of 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2021 an increase of 31% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($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 Saudi Arabia (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into India

In 2022, supplies from abroad of copper bars, rods and profiles was finally on the rise to reach X tons for the first time since 2013, thus ending a eight-year declining trend. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 28%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper bar, rod and profile imports rose sharply to $X in 2022. Over the period under review, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 37% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of copper bar, rod and profile imports to India, with a combined 59% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +13.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile suppliers to India were Thailand ($X), Japan ($X) and France ($X), together comprising 55% of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +12.3%, saw 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 average import price for copper bars, rods and profiles amounted to $X per ton, increasing by 8.3% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +51.0% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 40%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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