Latin America and the Caribbean: Copper Wire Market 2024

Copper Wire Market Size in Latin America and the Caribbean

The Latin American copper wire market expanded slightly to $X in 2021, with an increase of 1.6% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Copper Wire Production in Latin America and the Caribbean

In value terms, copper wire production dropped modestly to $X in 2021 estimated in export price. In general, production, however, showed a mild decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of copper wire were exported in Latin America and the Caribbean; picking up by 17% on the previous year's figure. Overall, exports, however, recorded a perceptible slump. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, copper wire exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a mild contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Peru (X tons), Chile (X tons) and Brazil (X tons), together reaching 94% of total export. It was distantly followed by Mexico (X tons), mixing up a 5.6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +2.0%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest copper wire supplying countries in Latin America and the Caribbean were Peru ($X), Chile ($X) and Brazil ($X), with a combined 93% share of total exports.

Peru, with a CAGR of +3.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, jumping by 44% against the previous year. Export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +50.4% against 2019 indices. 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 Chile ($X per ton) and Brazil ($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 (+5.4%), while the other leaders experienced more modest paces of growth.

Copper Wire Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of copper wire increased by 32% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a relatively flat trend pattern. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, copper wire imports soared to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) was the major importer of copper wire, comprising 45% of total imports. Colombia (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (13%), Brazil (6.5%) and Costa Rica (6.3%). The following importers - Ecuador (X tons) and Nicaragua (X tons) - each amounted to a 4.3% share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of copper wire. At the same time, Argentina (+4.9%), Ecuador (+3.8%) and Colombia (+1.6%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +4.9% from 2012-2021. By contrast, Nicaragua (-2.3%), Costa Rica (-2.7%) and Brazil (-3.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Argentina and Colombia increased by +6.1, +4.9 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported copper wire in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was taken by Colombia ($X), with a 15% share of total imports. It was followed by Argentina, with a 13% share.

In Mexico, copper wire imports increased at an average annual rate of +1.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (+3.1% per year) and Argentina (+6.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. 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 Argentina ($X per ton) and Brazil ($X per ton), while Nicaragua ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform