New Zealand: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in New Zealand

The New Zealand market for copper bars, rods and profiles contracted rapidly to $X in 2022, with a decrease of -18.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a abrupt contraction. Copper bar, rod and profile consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from New Zealand

In 2022, exports of copper bars, rods and profiles from New Zealand soared to X tons, jumping by 86% against the previous year's figure. Overall, exports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 95% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports soared to $X in 2022. In general, exports, however, recorded a noticeable decrease. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for copper bar, rod and profile exports from New Zealand, accounting for a 61% share of total exports. Moreover, copper bar, rod and profile exports to Hong Kong SAR exceeded the volume sent to the second major destination, China (X tons), fourfold. Australia (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR stood at +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+14.1% per year) and Australia (-14.6% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for copper bars, rods and profiles exports from New Zealand, comprising 46% of total exports. The second position in the ranking was taken by China ($X), with a 20% share of total exports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR stood at +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+14.8% per year) and the United States (-0.2% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, growing by 2.5% against the previous year. Over the period under review, the export price continues to indicate a mild expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 25%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Hong Kong SAR ($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 (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into New Zealand

Copper bar, rod and profile imports into New Zealand dropped to X tons in 2022, declining by -14.6% compared with 2021. In general, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports shrank to $X in 2022. Overall, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 61%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of copper bar, rod and profile to New Zealand, accounting for a 41% share of total imports. Moreover, copper bar, rod and profile imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+59.5% per year) and Malaysia (-5.6% per year).

In value terms, South Korea ($X) constituted the largest supplier of copper bars, rods and profiles to New Zealand, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Malaysia, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.2% per year) and Malaysia (-3.9% per year).

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, surging by 3.4% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +47.4% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 43%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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