Japan: Refined Copper Market 2024

Refined Copper Market Size in Japan

The Japanese refined copper market fell slightly to $X in 2022, which is down by -2.6% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Refined copper consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refined Copper Production in Japan

In value terms, refined copper production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 4%. Refined copper production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Copper Exports

Exports from Japan

Refined copper exports from Japan rose notably to X tons in 2022, growing by 7.5% against the previous year's figure. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 41%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined copper exports expanded slightly to $X in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +89.5% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 42%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main destinations of refined copper exports from Japan, together comprising 72% of total exports. India, Indonesia, Malaysia, Vietnam and South Korea lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +79.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined copper exported from Japan were China ($X), Taiwan (Chinese) ($X) and Thailand ($X), with a combined 72% share of total exports. India, Indonesia, Malaysia, Vietnam and South Korea lagged somewhat behind, together comprising a further 27%.

India, with a CAGR of +77.2%, saw the highest growth rate of the value of exports, in terms of 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, which is down by -4.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 50%. As a result, the export price attained the peak level of $X per ton, and then reduced modestly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to India ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Japan

In 2022, supplies from abroad of refined copper (unwrought, not alloyed) increased by 1.8% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 67%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, refined copper imports rose modestly to $X in 2022. Over the period under review, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 58%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Democratic Republic of the Congo (X tons), China (X tons) and Germany (X tons) were the main suppliers of refined copper imports to Japan, with a combined 55% share of total imports. Austria, South Korea, Australia, Chile, Zambia and Indonesia lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +320.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined copper suppliers to Japan were Democratic Republic of the Congo ($X), China ($X) and Germany ($X), together comprising 55% of total imports. Austria, South Korea, Australia, Chile, Zambia and Indonesia lagged somewhat behind, together accounting for a further 44%.

Austria, with a CAGR of +314.6%, saw the highest growth rate of the value of imports, in terms of 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, leveling off at the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.4% 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 +50.7% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 49% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Chile ($X per ton) and Germany ($X per ton), while the price for Indonesia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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