Iran: Refined Copper Market 2025

Refined Copper Market Size in Iran

The Iranian refined copper market declined to $X in 2022, dropping by -10.5% against the previous year. In general, consumption showed a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of 7%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Copper Production in Iran

In value terms, refined copper production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of 9.7% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Copper Exports

Exports from Iran

In 2022, exports of refined copper (unwrought, not alloyed) from Iran surged to X tons, picking up by 51% on 2021 figures. Over the period under review, exports saw resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 177% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, refined copper exports skyrocketed to $X in 2022. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 159% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for refined copper exports from Iran, with a 77% share of total exports. Moreover, refined copper exports to China exceeded the volume sent to the second major destination, Turkey (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to China totaled +47.9%.

In value terms, China ($X) remains the key foreign market for refined copper (unwrought, not alloyed) exports from Iran, comprising 77% of total exports. The second position in the ranking was taken by Turkey ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at +52.8%.

Export Prices by Country

In 2022, the average refined copper export price amounted to $X per ton, picking up by 1.6% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper export price increased by +91.8% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.3%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Copper Imports

Imports into Iran

In 2022, supplies from abroad of refined copper (unwrought, not alloyed) increased by 6.5% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a sharp setback. The pace of growth was the most pronounced in 2015 when imports increased by 358% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refined copper imports amounted to $X in 2022. Over the period under review, imports, however, showed a precipitous shrinkage. The growth pace was the most rapid in 2015 when imports increased by 308%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of refined copper to Iran, with a 49% share of total imports. Moreover, refined copper imports from Italy exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +730.0%.

In value terms, Italy ($X) constituted the largest supplier of refined copper (unwrought, not alloyed) to Iran, comprising 50% of total imports. The second position in the ranking was held by Switzerland ($X), with a 1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +447.9%.

Import Prices by Country

The average refined copper import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper import price decreased by -22.9% against 2020 indices. The growth pace was the most rapid in 2020 when the average import price increased by 64%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Switzerland amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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