India: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in India

In 2021, after four years of growth, there was decline in the Indian market for copper bars, wire and plates, when its value decreased by -4.3% to $X. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Production of Copper Bars, Wire And Plates in India

In value terms, copper bars, wire and plates production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 19% against the previous year. Copper bars, wire and plates production peaked at $X in 2020, and then contracted modestly in the following year.

Exports of Copper Bars, Wire And Plates

Exports from India

In 2021, overseas shipments of copper bars, wire and plates increased by 53% to X tons, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2015 when exports increased by 71% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports soared to $X in 2021. In general, exports showed a buoyant expansion. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for copper bars, wire and plates exports from India, with a 32% share of total exports. Moreover, copper bars, wire and plates exports to Qatar exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Sri Lanka (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Qatar amounted to +49.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.0% per year) and Sri Lanka (+0.5% per year).

In value terms, Qatar ($X) remains the key foreign market for copper bars, wire and plates exports from India, comprising 31% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Sri Lanka, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Qatar amounted to +53.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.5% per year) and Sri Lanka (+1.2% per year).

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, surging by 35% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates export price increased by +80.5% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($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 the United States (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into India

In 2021, after two years of decline, there was significant growth in purchases abroad of copper bars, wire and plates, when their volume increased by 20% to X tons. Over the period under review, imports continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2013 when imports increased by 40%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, copper bars, wire and plates imports surged to $X in 2021. In general, imports continue to indicate a measured expansion. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Thailand (X tons) and Malaysia (X tons) were the main suppliers of copper bars, wire and plates imports to India, together accounting for 58% of total imports. Japan, China, South Korea, Singapore, Germany and Russia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +42.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to India were the United Arab Emirates ($X), Thailand ($X) and Malaysia ($X), with a combined 59% share of total imports. These countries were followed by Japan, China, South Korea, Singapore, Germany and Russia, which together accounted for a further 29%.

Among the main suppliers, Singapore, with a CAGR of +40.1%, 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

The average import price for copper bars, wire and plates stood at $X per ton in 2021, growing by 36% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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