Report Update Nov 1, 2024

Mexico - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Copper Market 2024

Copper Market Size in Mexico

The Mexican copper market fell to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Copper Production in Mexico

In value terms, copper production reduced modestly to $X in 2022 estimated in export price. In general, production recorded a slight reduction. The pace of growth was the most pronounced in 2014 with an increase of 38%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Copper Exports

Exports from Mexico

In 2022, the amount of copper exported from Mexico contracted markedly to X kg, declining by -20% against the previous year. Overall, exports recorded a dramatic contraction. The pace of growth was the most pronounced in 2014 with an increase of 50%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper exports contracted sharply to $X in 2022. Over the period under review, exports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2014 with an increase of 93% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X kg) was the main destination for copper exports from Mexico, accounting for a 90% share of total exports. Moreover, copper exports to China exceeded the volume sent to the second major destination, South Korea (X kg), more than tenfold. Germany (X kg) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-54.2% per year) and Germany (-52.1% per year).

In value terms, China ($X) remains the key foreign market for copper exports from Mexico, comprising 76% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -43.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-51.6% per year) and Germany (-53.0% per year).

Export Prices by Country

The average copper export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 South Korea (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Imports

Imports into Mexico

Copper imports into Mexico soared to X tons in 2022, with an increase of 293% compared with 2021. In general, imports, however, saw a dramatic shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper imports skyrocketed to $X in 2022. Overall, imports, however, showed a sharp shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main supplier of copper to Mexico, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +28.4%.

In value terms, the United States ($X) constituted the largest supplier of copper to Mexico.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +30.5%.

Import Prices by Country

The average copper import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, posted slight growth. The growth pace was the most rapid in 2013 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +2.1% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper in the world?

Chile constituted the country with the largest volume of copper consumption, comprising approx. 25% of total volume. Moreover, copper consumption in Chile exceeded the figures recorded by the second-largest consumer, China, twofold. Peru ranked third in terms of total consumption with an 11% share.

What are the largest producers of copper in the world?

The country with the largest volume of copper production was Chile, comprising approx. 27% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru, twofold. China ranked third in terms of total production with an 8% share.

What are the leading suppliers of copper to Mexico?

In value terms, the United States constituted the largest supplier of copper to Mexico.

What are the leading importers of copper from Mexico?

In value terms, the United States remains the key foreign market for copper exports from Mexico.

What is the average export price for copper in Mexico?

The average copper export price stood at $20,896 per ton in 2021, jumping by 243% against the previous year.

What is the average import price for copper in Mexico?

The average copper import price stood at $10,655 per ton in 2021, rising by 201% against the previous year.

This report provides an in-depth analysis of the copper market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023