Kuwait: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Kuwait

The Kuwaiti market for copper bars, rods and profiles contracted to $X in 2022, with a decrease of -10.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a slight descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Kuwait

After two years of growth, shipments abroad of copper bars, rods and profiles decreased by -15.7% to X tons in 2022. Over the period under review, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 3,003% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports dropped to $X in 2022. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2015 with an increase of 2,072%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for copper bar, rod and profile exports from Kuwait, with a 65% share of total exports. Moreover, copper bar, rod and profile exports to Jordan exceeded the volume sent to the second major destination, India (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jordan stood at -39.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-43.8% per year) and Qatar (-21.2% per year).

In value terms, Jordan ($X) remains the key foreign market for copper bars, rods and profiles exports from Kuwait, comprising 49% of total exports. The second position in the ranking was taken by Qatar ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan totaled -36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-15.9% per year) and India (-51.5% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, growing by 13% against the previous year. Overall, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 97% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to India ($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 Qatar (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Bars, Rods and Profiles

Imports into Kuwait

Copper bar, rod and profile imports into Kuwait shrank modestly to X tons in 2022, which is down by -2.1% on 2021 figures. In general, imports showed a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of 429%. 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, copper bar, rod and profile imports shrank to $X in 2022. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when imports increased by 363%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of copper bar, rod and profile to Kuwait, accounting for a 56% share of total imports. Moreover, copper bar, rod and profile imports from Russia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.3% per year) and Malaysia (+4.1% per year).

In value terms, Russia ($X) constituted the largest supplier of copper bars, rods and profiles to Kuwait, comprising 39% of total imports. The second position in the ranking was held by Thailand ($X), with a 14% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Russia stood at -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.1% per year) and Malaysia (+7.1% per year).

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, falling by -10.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 28% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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