Latin America and the Caribbean: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Latin America and the Caribbean

The Latin American market for copper bars, wire and plates rose modestly to $X in 2021, with an increase of 3.7% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Copper Bars, Wire And Plates in Latin America and the Caribbean

In value terms, copper bars, wire and plates production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a mild decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Copper Bars, Wire And Plates

Exports in Latin America and the Caribbean

In 2021, approx. X tons of copper bars, wire and plates were exported in Latin America and the Caribbean; growing by 20% compared with 2020 figures. Over the period under review, exports, however, continue to indicate a slight curtailment. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports surged to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; afterwards, it flattened through to 2021.

Exports by Country

The biggest shipments were from Peru (X tons), Brazil (X tons) and Chile (X tons), together amounting to 88% of total export. It was distantly followed by Mexico (X tons), constituting a 10% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +3.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest copper bars, wire and plates supplying countries in Latin America and the Caribbean were Peru ($X), Brazil ($X) and Chile ($X), with a combined 87% share of total exports.

Among the main exporting countries, Brazil, with a CAGR of +4.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 40% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Mexico ($X per ton) and Peru ($X per ton), while Brazil ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.4%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports in Latin America and the Caribbean

In 2021, purchases abroad of copper bars, wire and plates was finally on the rise to reach X tons after three years of decline. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports surged to $X in 2021. In general, imports recorded a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the key importer of copper bars, wire and plates in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 50% of total imports in 2021. Colombia (X tons) ranks second in terms of the total imports with a 13% share, followed by Argentina (11%), Brazil (6%) and Costa Rica (5.2%). The following importers - Ecuador (X tons) and Nicaragua (X tons) - each reached a 3.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to copper bars, wire and plates imports into Mexico stood at +2.0%. At the same time, Argentina (+4.7%), Ecuador (+3.7%) and Colombia (+2.4%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +4.7% from 2012-2021. By contrast, Nicaragua (-2.3%), Costa Rica (-2.6%) and Brazil (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Argentina and Colombia increased by +8.6, +3.8 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported copper bars, wire and plates in Latin America and the Caribbean, comprising 51% of total imports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total imports. It was followed by Argentina, with an 11% share.

In Mexico, copper bars, wire and plates imports expanded at an average annual rate of +3.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (+3.6% per year) and Argentina (+6.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 21% 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.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Brazil ($X per ton) and Argentina ($X per ton), while Ecuador ($X per ton) and Nicaragua ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :