Peru: Market for Copper Ores And Concentrates 2025

Market Size for Copper Ores And Concentrates in Peru

The Peruvian copper ores and concentrates market reduced dramatically to $X in 2021, with a decrease of -20.4% against the previous year. In general, consumption faced a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Ores And Concentrates in Peru

In value terms, copper ores and concentrates production dropped to $X in 2021 estimated in export price. In general, production showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Copper Ores And Concentrates

Exports from Peru

Copper ores and concentrates exports from Peru expanded sharply to X tons in 2021, picking up by 8% on 2020 figures. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 49%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports surged to $X in 2021. Overall, exports recorded a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for copper ores and concentrates exports from Peru, with a 71% share of total exports. Moreover, copper ores and concentrates exports to China exceeded the volume sent to the second major destination, Japan (X tons), eightfold. South Korea (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.2% per year) and South Korea (+8.2% per year).

In value terms, China ($X) remains the key foreign market for copper ores and concentrates exports from Peru, comprising 70% of total exports. The second position in the ranking was held by Japan ($X), with an 8% share of total exports. It was followed by South Korea, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.0% per year) and South Korea (+10.0% per year).

Export Prices by Country

The average copper ores and concentrates export price stood at $X per ton in 2021, growing by 54% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to South Korea ($X per ton) and India ($X per ton), while the average price for exports to Spain ($X per ton) and Japan ($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 India (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports into Peru

In 2021, supplies from abroad of copper ores and concentrates was finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 333% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, copper ores and concentrates imports soared to $X in 2021. Overall, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 394%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest supplier of copper ores and concentrates to Peru, with a 68% share of total imports. Moreover, copper ores and concentrates imports from Ecuador exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ecuador stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+50.9% per year) and Brazil (-7.8% per year).

In value terms, Chile ($X), Ecuador ($X) and Bolivia ($X) appeared to be the largest copper ores and concentrates suppliers to Peru, together comprising 100% of total imports.

Chile, with a CAGR of +43.5%, recorded 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 mixed trend patterns.

Import Prices by Country

The average copper ores and concentrates import price stood at $X per ton in 2021, reducing by -13.4% against the previous year. In general, the import price recorded a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 35% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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