Myanmar: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Myanmar

In 2021, after two years of growth, there was significant decline in the Myanmar's market for copper bars, wire and plates, when its value decreased by -58.9% to $X. Over the period under review, consumption, however, posted a prominent increase. Over the period under review, the market attained the peak level at $X in 2020, and then fell remarkably in the following year.

Exports of Copper Bars, Wire And Plates

Exports from Myanmar

In 2021, copper bars, wire and plates exports from Myanmar soared to X tons, growing by 105% on 2020. Over the period under review, exports recorded a resilient increase. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 204%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for copper bars, wire and plates exports from Myanmar, with a 57% share of total exports. Moreover, copper bars, wire and plates exports to Malaysia exceeded the volume sent to the second major destination, Singapore (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a 19% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-8.5% per year) and Japan (+37.4% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for copper bars, wire and plates exports from Myanmar, comprising 59% of total exports. The second position in the ranking was held by Singapore ($X), with a 19% share of total exports. It was followed by Japan, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-8.6% per year) and Japan (+29.3% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, growing by 17% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% 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 bars, wire and plates export price increased by +117.9% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 66%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+24.0%), while the prices for the other major destinations experienced a decline.

Imports of Copper Bars, Wire And Plates

Imports into Myanmar

In 2021, after two years of growth, there was significant decline in overseas purchases of copper bars, wire and plates, when their volume decreased by -61.3% to X tons. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2015 when imports increased by 188% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined rapidly in the following year.

In value terms, copper bars, wire and plates imports dropped dramatically to $X in 2021. In general, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2015 when imports increased by 128%. Over the period under review, imports attained the peak figure at $X in 2020, and then contracted notably in the following year.

Imports by Country

Vietnam (X tons), Indonesia (X tons) and Thailand (X tons) were the main suppliers of copper bars, wire and plates imports to Myanmar, together accounting for 69% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) appeared to be the largest copper bars, wire and plates suppliers to Myanmar, with a combined 75% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +50.4%, recorded 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

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, rising by 17% against the previous year. In general, the import price, however, saw a pronounced downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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