Kenya: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Kenya

In 2021, the Kenyan market for copper bars, wire and plates decreased by -8.1% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then fell in the following year.

Exports of Copper Bars, Wire And Plates

Exports from Kenya

In 2021, overseas shipments of copper bars, wire and plates increased by 39% to X tons, rising for the second consecutive year after five years of decline. Overall, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 62%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, copper bars, wire and plates exports surged to $X in 2021. Over the period under review, exports, however, faced a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Tanzania (X tons) was the main destination for copper bars, wire and plates exports from Kenya, with a 90% share of total exports. Moreover, copper bars, wire and plates exports to Tanzania exceeded the volume sent to the second major destination, Uganda (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-16.7% per year) and Singapore (-35.9% per year).

In value terms, Tanzania ($X) remains the key foreign market for copper bars, wire and plates exports from Kenya, comprising 90% of total exports. The second position in the ranking was taken by Uganda ($X), with a 5.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Tanzania totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-2.1% per year) and Singapore (-35.3% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, picking up by 31% against the previous year. In general, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 +103.7% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 41% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to Singapore ($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 Uganda (+17.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Bars, Wire And Plates

Imports into Kenya

In 2021, purchases abroad of copper bars, wire and plates decreased by -26.2% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then fell significantly in the following year.

In value terms, copper bars, wire and plates imports expanded to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Russia (X tons) and Zambia (X tons) were the main suppliers of copper bars, wire and plates imports to Kenya, together comprising 83% of total imports. Tanzania, Turkey, Egypt and India lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Tanzania (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to Kenya were the United Arab Emirates ($X), Russia ($X) and Zambia ($X), together accounting for 87% of total imports. These countries were followed by Tanzania, Turkey, India and Egypt, which together accounted for a further 9.2%.

Among the main suppliers, Tanzania, with a CAGR of +35.6%, 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

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, picking up by 37% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, import price reached 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 the United Arab Emirates ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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