Morocco: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Morocco

For the fifth consecutive year, the Moroccan market for copper bars, rods and profiles recorded growth in sales value, which increased by 9.5% to $X in 2022. Overall, consumption showed a resilient increase. Copper bar, rod and profile consumption peaked in 2022 and is likely to see gradual growth in years to come.

Exports of Copper Bars, Rods and Profiles

Exports from Morocco

In 2022, shipments abroad of copper bars, rods and profiles increased by 372% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 3,637%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports skyrocketed to $X in 2022. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of 2,347% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Tunisia (X tons) was the main destination for copper bar, rod and profile exports from Morocco, accounting for a 89% share of total exports. Moreover, copper bar, rod and profile exports to Tunisia exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. Spain (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tunisia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+124.6% per year) and Spain (+58.2% per year).

In value terms, Tunisia ($X) emerged as the key foreign market for copper bars, rods and profiles exports from Morocco, comprising 87% of total exports. The second position in the ranking was taken by Turkey ($X), with a 5.3% share of total exports. It was followed by Spain, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Tunisia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+80.2% per year) and Spain (+52.8% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, falling by -23.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 469% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Mauritania ($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 France (+20.1%), while the prices for the other major destinations experienced a decline.

Imports of Copper Bars, Rods and Profiles

Imports into Morocco

In 2022, the amount of copper bars, rods and profiles imported into Morocco rose remarkably to X tons, with an increase of 6.3% on the year before. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.6% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 51% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, copper bar, rod and profile imports soared to $X in 2022. Overall, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by 46%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Spain (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of copper bar, rod and profile imports to Morocco, together comprising 75% of total imports. Belgium, France and Germany lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +50.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Belgium ($X) were the largest copper bar, rod and profile suppliers to Morocco, with a combined 71% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +51.8%, saw the highest rates of growth with regard to 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

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, growing by 8.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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