Italy: Refined Copper Market 2024

Refined Copper Market Size in Italy

In 2022, the Italian refined copper market increased by 2.1% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.1% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Refined Copper Production in Italy

In value terms, refined copper production expanded markedly to $X in 2022 estimated in export price. In general, production enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 54%. Refined copper production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Refined Copper Exports

Exports from Italy

In 2022, overseas shipments of refined copper (unwrought, not alloyed) decreased by -33.4% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 292%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, refined copper exports shrank rapidly to $X in 2022. Overall, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 198% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons), Spain (X tons) and Germany (X tons) were the main destinations of refined copper exports from Italy, with a combined 71% share of total exports. Croatia, Austria, Hungary, Romania, Poland, Turkey, France, Saudi Arabia and the UK lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +94.5%), while the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Germany ($X) and Spain ($X) appeared to be the largest markets for refined copper exported from Italy worldwide, together comprising 71% of total exports. Croatia, Austria, Hungary, Romania, Poland, Turkey, France, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further 24%.

Croatia, with a CAGR of +102.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined copper export price stood at $X per ton in 2022, increasing by 1.8% against the previous year. In general, export price indicated a slight 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 export price increased by +52.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 42%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual 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 ($X per ton), while the average price for exports to Hungary ($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 the UK (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Italy

In 2022, purchases abroad of refined copper (unwrought, not alloyed) increased by 4.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 34% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, refined copper imports declined slightly to $X in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 99% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Bulgaria (X tons), Austria (X tons) and Democratic Republic of the Congo (X tons) were the main suppliers of refined copper imports to Italy, with a combined 34% share of total imports. Poland, Congo, Germany, Sweden, Spain, the Netherlands, Chile, Peru, Russia and Zambia lagged somewhat behind, together accounting for a further 57%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +50.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Austria ($X) and Democratic Republic of the Congo ($X) appeared to be the largest refined copper suppliers to Italy, with a combined 35% share of total imports. Poland, Congo, Germany, Sweden, the Netherlands, Spain, Peru, Chile, Russia and Zambia lagged somewhat behind, together accounting for a further 56%.

The Netherlands, with a CAGR of +52.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined copper import price stood at $X per ton in 2022, falling by -4.2% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price 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, refined copper import price increased by +45.7% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 49% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Zambia ($X per ton) and Peru ($X per ton), while the price for Sweden ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :