Pakistan: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Pakistan

In 2021, the Pakistani market for copper bars, wire and plates was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Copper Bars, Wire And Plates in Pakistan

In value terms, copper bars, wire and plates production rose slightly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 36% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Pakistan

In 2021, shipments abroad of copper bars, wire and plates increased by 5.1% to X tons, rising for the fifth year in a row after two years of decline. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 226%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, copper bars, wire and plates exports expanded remarkably to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 239% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons) was the main destination for copper bars, wire and plates exports from Pakistan, with a 81% share of total exports. Moreover, copper bars, wire and plates exports to China exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The UK (X tons) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.2% per year) and the UK (-3.0% per year).

In value terms, China ($X) remains the key foreign market for copper bars, wire and plates exports from Pakistan, comprising 78% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by the UK, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +46.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.6% per year) and the UK (-0.5% per year).

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, growing by 2.6% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and the United States ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Pakistan

In 2021, purchases abroad of copper bars, wire and plates increased by 61% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.0% against 2019 indices. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, copper bars, wire and plates imports surged to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest copper bars, wire and plates supplier to Pakistan, accounting for a 30% share of total imports. Moreover, copper bars, wire and plates imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.8% per year) and China (+12.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, wire and plates to Pakistan, comprising 33% of total imports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+0.9% per year) and Japan (-3.1% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, increasing by 31% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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