Peru: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Peru

The Peruvian market for copper bars, rods and profiles expanded remarkably to $X in 2022, picking up by 5.6% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in Peru

In value terms, copper bar, rod and profile production expanded modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from Peru

In 2022, copper bar, rod and profile exports from Peru contracted to X tons, dropping by -11.2% on the previous year's figure. Overall, exports recorded a mild decline. The pace of growth appeared the most rapid in 2017 when exports increased by 30%. 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 dropped markedly to $X in 2022. In general, exports showed a slight reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 82%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for copper bar, rod and profile exports from Peru, accounting for a 76% share of total exports. Moreover, copper bar, rod and profile exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+30.3% per year) and Canada (+2.8% per year).

In value terms, the United States ($X) remains the key foreign market for copper bars, rods and profiles exports from Peru, comprising 79% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 5.4% share of total exports. It was followed by Canada, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+27.3% per year) and Canada (+3.0% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, waning by -12.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Canada ($X per ton) and the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Bars, Rods and Profiles

Imports into Peru

In 2022, the amount of copper bars, rods and profiles imported into Peru surged to X tons, growing by 26% on the previous year. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 181%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports amounted to $X in 2022. In general, imports posted a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 175% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of copper bar, rod and profile to Peru, accounting for a 48% share of total imports. Moreover, copper bar, rod and profile imports from Chile exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile stood at +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+171.3% per year) and China (+16.3% per year).

In value terms, the largest copper bar, rod and profile suppliers to Peru were Chile ($X), the United States ($X) and Spain ($X), with a combined 65% share of total imports. Brazil, China and Canada lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Canada, with a CAGR of +93.5%, 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, reducing by -20.2% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 an increase of 48% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+36.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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