Panama: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Panama

The Panamanian market for copper bars, rods and profiles surged to $X in 2022, picking up by 16% against the previous year. Over the period under review, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.6% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in Panama

In value terms, copper bar, rod and profile production surged to $X in 2022 estimated in export price. In general, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 88% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Panama

In 2022, approx. X tons of copper bars, rods and profiles were exported from Panama; picking up by 1,556% against 2021 figures. Over the period under review, exports recorded a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports surged to $X in 2022. In general, exports recorded a pronounced increase. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X tons), Costa Rica (X tons) and the United States (X tons) were the main destinations of copper bar, rod and profile exports from Panama, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +25.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bar, rod and profile exported from Panama were Honduras ($X), Costa Rica ($X) and the United States ($X), with a combined 90% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +30.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, growing by 18% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 26%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to the Dominican Republic ($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 Guyana (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Panama

In 2022, supplies from abroad of copper bars, rods and profiles increased by 63% to X tons, rising for the second consecutive year after three years of decline. In general, imports saw a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 1,389%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper bar, rod and profile imports surged to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 999% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and the United States (X tons) were the main suppliers of copper bar, rod and profile imports to Panama, together comprising 75% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +51.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), India ($X) and China ($X) appeared to be the largest copper bar, rod and profile suppliers to Panama, with a combined 69% share of total imports.

China, with a CAGR of +58.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, rising by 20% against the previous year. In general, the import price, however, showed a slight contraction. The growth pace was the most rapid in 2020 when the average import price increased by 55%. The import price peaked at $X per ton in 2012; however, from 2013 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 Australia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform