Iran: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Iran

The Iranian market for copper bars, wire and plates was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, recorded a abrupt setback. Copper bars, wire and plates consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Copper Bars, Wire And Plates in Iran

In value terms, copper bars, wire and plates production reached $X in 2021 estimated in export price. In general, production, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Copper Bars, Wire And Plates

Exports from Iran

In 2021, approx. X tons of copper bars, wire and plates were exported from Iran; rising by 207% on the previous year. In general, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Over the period under review, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for copper bars, wire and plates exports from Iran, with a 85% share of total exports. Moreover, copper bars, wire and plates exports to Turkey exceeded the volume sent to the second major destination, India (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+23.7% per year) and Italy (+61.6% per year).

In value terms, Turkey ($X) remains the key foreign market for copper bars, wire and plates exports from Iran, comprising 87% of total exports. The second position in the ranking was taken by India ($X), with a 4.1% share of total exports. It was followed by Italy, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+22.2% per year) and Italy (+72.0% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, rising by 48% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. 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 +38.0% against 2018 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 Italy ($X per ton), while the average price for exports to India ($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 France (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Iran

In 2021, copper bars, wire and plates imports into Iran declined sharply to X tons, which is down by -33.5% on the previous year. In general, imports continue to indicate a precipitous contraction. The pace of growth was the most pronounced in 2014 when imports increased by 89%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports shrank to $X in 2021. Over the period under review, imports continue to indicate a precipitous setback. The pace of growth appeared the most rapid in 2016 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Hong Kong SAR (X tons) and China (X tons) were the main suppliers of copper bars, wire and plates imports to Iran, together comprising 51% of total imports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +71.7%), while purchases for the other leaders experienced a decline.

In value terms, Turkey ($X) constituted the largest supplier of copper bars, wire and plates to Iran, comprising 27% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to -23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.4% per year) and China (-19.5% per year).

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, increasing by 37% against the previous year. Overall, the import price posted a temperate increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 41%. The import price peaked in 2021 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 India ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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